Home News Stocks Bounce With Futures Before Inflation Data: Markets Wrap

Stocks Bounce With Futures Before Inflation Data: Markets Wrap

Stocks Bounce With Futures Before Inflation Data: Markets Wrap

European stocks and U.S. equity futures bounced before inflation data out of the U.S. along with earnings reports that will measure corporate health in an era of rising costs.

S&P 500 contracts erased an earlier loss before the U.S. consumer report while news that the chip shortage may crimp Apple Inc.’s output weighed on sentiment. European stocks posted modest gains led by tech and auto-parts makers.

The U.S. 10-year Treasury yield held below 1.60% and a gauge of the dollar ticked lower. A rally in oil paused but crude remained around $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.

In cryptocurrencies, Bitcoin pared its recent rally and traded around $56,300.

Most Asian stock markets rose, but regional gains were capped by a small move lower in Japan and the cancellation of trading in Hong Kong due to typhoon Kompasu.

Here are a few events to watch this week:

  • U.S. FOMC minutes and CPI Wednesday
  • China PPI, CPI Thursday
  • U.S. initial jobless claims, PPI Thursday

For more market analysis, read our MLIV blog.

Some of the main moves in markets:


  • The Stoxx Europe 600 rose 0.4% as of 9:47 a.m. London time
  • Futures on the S&P 500 rose 0.2%
  • Futures on the Nasdaq 100 rose 0.4%
  • Futures on the Dow Jones Industrial Average rose 0.2%
  • The MSCI Asia Pacific Index rose 0.2%
  • The MSCI Emerging Markets Index rose 0.5%


  • The Bloomberg Dollar Spot Index fell 0.2%
  • The euro rose 0.3% to $1.1560
  • The Japanese yen was little changed at 113.54 per dollar
  • The offshore yuan rose 0.2% to 6.4438 per dollar
  • The British pound rose 0.3% to $1.3635


  • The yield on 10-year Treasuries declined one basis point to 1.56%
  • Germany’s 10-year yield declined three basis points to -0.12%
  • Britain’s 10-year yield declined four basis points to 1.11%


  • Brent crude fell 0.4% to $83.12 a barrel
  • Spot gold rose 0.4% to $1,767.52 an ounce

Fiscal Stimulus Bolsters US Economic Growth in Q1, Fastest GDP Growth Since 2003

The second-fastest gross domestic product growth since the third quarter of 2003, reported by the Commerce Department on Thursday, left output just 0.9% shy of its level at the end of 2019.

US Economy Grew Robustly in First Quarter

GDP grew at a 6.4% annual rate in the quarter, leaving the economy within 1% of its peak.

Asia-Pacific Markets Broadly Lower As Investors Turn Cautious

Asia-Pacific markets struggled for gains Friday as investors turned cautious, despite a positive finish stateside in the previous session.

World Shares Near Record High on Strong US Economic Data and Earnings

US economic growth accelerated in the first quarter, fuelled by massive government aid.

How the US Won the Economic Recovery

I looked for a country that got the economic response to Covid-19 right. I found the US.

Barclays Boss Predicts Biggest Economic Boom Since 1948

The UK is about to experience its biggest economic boom since the aftermath of World War Two, according to Barclays boss Jes Staley. His upbeat...

Buying American Is Easier Said Than Done: Will Biden’s Plan Juice the US Economy?

Joe Biden and Donald Trump don't agree on much, but this much they do: We should buy American products. But that's easier said than done.

Silver Down As Dollar and Yields on Bonds Rose as US Economy Advanced

Benchmark U.S. 10-year Treasury yields hovered near a more than two-week high, increasing the opportunity cost of holding non-yielding bullion.

Yellen Doesn’t See Biden Plan Creating Inflation ‘Issue’

President Joe Biden’s economic plan is unlikely to create inflation pressure in the U.S. because the boost to demand will be spread over a decade, said Treasury Secretary Janet Yellen.

Inflationary Pressure, Hawkish Fed Official Remarks Keep US Stocks on Leash

Dow added 2.4%, the S&P 500 gained 5.6%, and the Nasdaq jumped 7%. Dow was down 0.54% at 33,875 while the S&P was down by 0.72%. Nasdaq was down by 0.85%.