Stock Futures Boosted After Inflation Report

Inflation rose 4.9% from a year ago

Deputy Editor
May 10, 2023 at 9:16 AM
facebook X logo linkedin


All eyes are on this morning's highly-anticipated consumer price index (CPI) data for April, which showed the annual inflation rate rising 4.9%, its lowest level in two years and slightly below the 5% anticipated by analysts. Core CPI rose 5.5% from a year ago, while both the monthly CPI and core CPI both rose 0.4% in April. 

Stock futures reversed their earlier losses after the better-than-expected inflation report, with Dow Jones Industrial Average (DJIA) futures up triple digits, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures moved higher as well. 

Continue reading for more on today's market, including:

Futures May 10

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.1 million call contracts and 798,238 put contracts exchanged on Tuesday. The single-session equity put/call ratio fell to 0.67 and the 21-day moving average stayed at 0.76.
  2. Airbnb Inc (NASDAQ:ABNB) is brushing off its strong first-quarter results. The stock is down 15% premarket, after the company issued a weak second-quarter forecast on slowing demand. No fewer than 14 analysts slashed their price targets in response. Heading into today, ABNB is up 48.6% year-to-date. 
  3. Halozyme Therapeutics Inc (NASDAQ:HALO) stock is up 3% before the bell, after Piper Sandler upgraded the drugmaker to "overweight" from "neutral," following the company's reaffirmed full-year guidance. Looking to bounce off of yesterday's two-year lows, HALO is down 46.3% since the start of 2023. 
  4. GoodRX Holdings Inc (NASDAQ:GDRX) is off 9.4% in electronic trading, after lowering its full-year and current-quarter revenue guidance. Year-over-year, the equity is down 56.4%. 
  5. Today will also bring the Federal budget balance. 

buzzmay10

Rate Hike Cycle Nearing End in Europe?

Stocks in Asia closed lower for Wednesday, as investors digested earnings and economic data from the region. Despite unemployment falling to 2.6% in South Korea, the Kospi logged a 0.5% loss. Japan’s Nikkei ended 0.4% lower, brushing off Mitsubishi’s record earnings report. China’s Shanghai Composite sank 1.2% and Hong Kong’s Hang Seng gave back 0.5%.

Bourses in Europe are sporting modest losses at last check. Greek Central Bank (GCB) Chief Yannis Stournaras noted that European Central Bank (ECB) will stop hiking interest rates, barring any major economic changes. At last glance, London’s FTSE 100 is off 0.1%, France’s CAC 40 is down 0.2%, and Germany’s DAX has shed 0.3%.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI