Friday saw a little increase in stock futures as traders looked to cap off a significant week of inflation data strongly.
The Dow Jones Industrial Average-linked futures saw an increase of 38 points, or 0.1%. Nasdaq-100 futures increased by 0.2%, while S&P 500 futures increased by 0.1%.
Adobe, a software company, had an 11% decline due to their poor sales forecast. Ulta’s beauty stock fell more than 6% after analysts were generally unimpressed with the company’s full-year earnings estimate.
These actions come after a Wall Street loss. Three days of gains were ended by a more than 100 point, or roughly 0.4%, decline in the Dow. The Nasdaq and S&P 500 both had a 0.3% decline.
The decline on Thursday occurred after the producer price index, which measures wholesale inflation in February, increased more than forecast by analysts. Yields on bonds increased in the session, with the benchmark 10-year Treasury bond hitting 4.29%, as investors questioned if the Federal Reserve should ease monetary policy given the strength of the recent economic statistics.
Source (CNBC)
