Prior to the release of more corporate earnings results and CPI data later this week, U.S. stock futures were trading higher on Sunday evening deals after key benchmark averages began the week in the red due to weakening macroeconomic data that soured risk sentiment. By 7:25 p.m. ET (11:25 p.m. GMT), the Dow Jones Futures …
Prior to the release of more corporate earnings results and CPI data later this week, U.S. stock futures were trading higher on Sunday evening deals after key benchmark averages began the week in the red due to weakening macroeconomic data that soured risk sentiment. By 7:25 p.m. ET (11:25 p.m. GMT), the Dow Jones Futures had increased by 0.1%, the S&P 500 Futures by 0.2%, and the Nasdaq 100 Futures by 0.3%. The trade balance, preliminary Michigan consumer sentiment and expectations, CPI and PPI data, speeches from FOMC members Harker and Bowman, and NFIB small business optimism will all be actively watched by market participants in the coming week. The Q2 earnings season will continue this week with reports from companies like Sony Group Corp (NYSE:SONY), Palantir Technologies Inc (NYSE:PLTR), Glencore (OTC:GLNCY) (LON:GLEN) PLC (OTC:GLCNF), SoftBank Group Corp. (OTC:SFTBF), Rivian Automotive Inc (NASDAQ:RIVN), Fox Corp (NASDAQ:FOX), Warner Music Group (NASDAQ:WMG), Walt Disney Company (NYSE:DIS), and Alibaba (NYSE:BABA). The market is still anticipating too much policy easing for next year, according to economist Michael Gapen at BofA, despite the recent string of strong economic data. In contrast to the slight recession Gapen had previously predicted, “we now expect a soft landing for the U.S. economy.”
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