U.S. futures bounce as all eyes turn to inflation
BNN Bloomberg
U.S. equity futures bounced before inflation data that along with earnings reports will give key insights into corporate health in an era of rising costs.
U.S. equity futures bounced before inflation data that along with earnings reports will give key insights into corporate health in an era of rising costs.
Both S&P 500 and Nasdaq 100 contracts rose ahead of the U.S. consumer report, with the tech-heavy Nasdaq outperforming. JPMorgan Chase & Co. rose as much as 0.8 per cent in premarket trading after the firm’s merger advisory business reported its best quarterly profit. Apple Inc. fell in early trading on a likely cut in iPhone 13 production targets for 2021 due to chip shortages.
The U.S. 10-year Treasury yield held below 1.60 per cent and a gauge of the dollar ticked lower. A rally in oil paused but crude remained around US$80 a barrel amid a global energy crunch. Chinese thermal coal futures hit another record high.
Apple fell in the premarket on a likely cut in iPhone 13 production targets for 2021 due to chip shortages, putting the focus on pandemic-related supply-chain snarls as earnings season kicks off.
The upcoming flurry of corporate earnings releases will offer insight into whether businesses expect price pressures to hurt profits at a time when economic growth is slowing and central banks begin to pare back pandemic stimulus.
