The trader is working on the floor of the New York Stock Exchange (NYSE) in New York City on January 7, 2022.
Spencer Platt | Getty Images
Wednesday US equity futures were stable on overnight trading after the Nasdaq Composite rose in the third session despite the furious consumer price index reports.
Dow futures have risen by only 20 points. S & P 500 futures rose 0.05% and Nasdaq 100 futures rose 0.04%.
Homebuilder stock KB Home After reporting higher-than-expected earnings, overtime trading rose by more than 6%.
on Wednesday, Despite the massive prints from the CPI inflation report, the key average has risen. The Dow Jones Industrial Average rose about 38 points and the S & P 500 rose 0.3%. The Nasdaq Composite Index rose 0.2% for the third straight day.
December Consumer price index, Major inflation indicators, Increased by 7%, according to the Bureau of Labor Statistics.. On a monthly basis, the CPI increased by 0.5%. According to Dow Jones, economists expected the consumer price index to rise 0.4% and 7% year-on-year in December.
The annual move was the fastest increase since June 1982.
“Equities have shaken off the historically high inflation sticker shock, but it’s also widely anticipated and is incredibly non-event today,” said Ryan Detrick of LPL Financial. .. “What’s exciting about us is that the earnings season is just around the corner. We expect another solid result from U.S. companies, but it’s also an opportunity to stop focusing too much on the Fed and policy. But instead, sneak inside and see how the economy really works. “
Then another indicator of inflation, the December Producer Price Index, will be released Thursday morning.
Also, on the data side, the first unemployed bill for the week ending January 8 will be announced at 8:30 am. Economists polled by Dow Jones predict that 200,000 people will apply for unemployment from 207,000 last week.
The fourth-quarter earnings season of this week begins with several major banks reporting before the bell on Friday.
Delta will report Thursday morning. Wall Street Expects Delta Raise profits and earnings per share to levels more than two years ago.
“Of course, the stock market is vulnerable to bad PPI inflation reports in the short term, but earnings season is about to begin and corporate earnings remain strong given how strong economic growth was in the fourth quarter. We hope that there will be more evidence to help calm the modern era. Monetary tightening and inflation concerns. ” Jim Paulsen, chief investment strategist at Loithold Group, said.
This week’s S & P 500 and Nasdaq are up 1.1% and 1.7%, respectively. The Dow has risen slightly since Monday.
Equity futures flat after three consecutive Nasdaq wins
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