U.S. stock index futures traded slightly above retail data on Friday, after a week in which Federal Reserve Chairman Jerome Powell confirmed that rising inflation was a temporary phenomenon.
How are equity benchmarks traded?
were 49 points or 0.1% higher at 34,911.
S&P 500 index futures
increased by 7.75 points at 4,359.50, an increase of 0.2%.
traded at 34.50 points or 0.2% at 14,821.50.
rose 53.79 points or 0.15% today to 34,987.02, the S&P 500
fell 14.27 points, or 0.33%, to 4,360.03, while the Nasdaq Composite Index
closed 101.82 points lower or 0.70% at 14,543.13.
During the week, the Dow has now risen 0.3%, marking the fourth consecutive rise; The S&P 500 is heading for a weekly decline of 0.2%, while the Nasdaq is looking at a weekly decline of 1.1%, the first such decline in four weeks for both indices. Small Cap Russell 2000 Index
was on the track for a 4% decline during the week, marking his third loss in a row.
What drives the market?
U.S. stock indices will move mostly to small losses during the week after Federal Reserve Chairman Jerome Powell reiterated that inflation will rise a few months before the slowdown.
Investors have digested the company’s second-quarter results, but the data has been mixed.
Retail sales data for June will be released on Friday at 8:30 a.m. Eastern time, which may provide additional information on the economic recovery from COVID-19. Sales are expected to fall 0.4% in June, compared to 1.3% in May. Car sales have grown by 0.4% after a 0.7% decline in May.
The spread of a more transmissible variant of the delta coronavirus has caused nerves on Wall Street, but the lowest resistance path is still higher for equities and lower for Treasury profitability, a 10-year benchmark.
on Thursday will fall briefly below 1.30%. The decline in income suggests that fixed-income investors are skeptical about growth due to the pandemic or share Powell’s view that inflation is short-lived.
Meanwhile, US President Joe Biden will join Pacific leaders on Friday, including China’s Xi Jinping and Russia’s Vladimir Putin virtual meeting develop strategies to help economies recover from the recurrent COVID-19 pandemic.
In Germany, Chancellor Angela Merkel has promised urgent help catastrophic floods which has killed more than 90 and left hundreds missing in the west of the country as rivers and reservoirs overflow due to persistent rains.
Which companies are the focus?
A Chinese equestrian company listed on the US stock exchange Didi Global
fell in pre-market trade after national security and police officers were sent to company offices on Friday as part of a cyber security investigation, CNBC announced.
was after The The Wall Street Journal reported that the semiconductor giant investigated a deal to acquire chip maker GlobalFoundries for about $ 30 billion.
a biotechnology company that has become famous after producing a highly effective COVID-19 vaccine should join the S&P 500 index, replacing Alexion Pharmaceuticals Inc..