Stock Futures Muted After Key Inflation Data

The PCE price index rose 4.7% over the past 12 months

Deputy Editor
May 26, 2023 at 9:04 AM
facebook X logo linkedin


Stock futures are struggling for direction ahead of the open, as investors unpack a slew of economic data to finish out the week. Inflation remained high in April, per the personal consumption expenditures (PCE) price index, which rose 0.4% for the month and 4.7% on an annual basis.

Elsewhere, durable goods rose 1.1%, and the U.S trade deficit in goods jumped 17% to $96.8 billion. On the political front, a debt ceiling agreement appears to be making progress, with a rumored two-year deal that caps spending on everything but military and veterans, per a U.S. official.

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

  • Understanding options assignment and the risk involved. 
  • 3 retail stocks that made big post-earnings swings. 
  • Plus, stocks making outsized moves after this morning's reports. 

Futures MAy26

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts and 850,212 put contracts exchanged on Thursday. The single-session equity put/call ratio fell to 0.56 and the 21-day moving average stayed at 0.70.
  2. Marvell Technology Inc (NASDAQ:MRVL) is up 16.6% premarket, after the semiconductor name beat top- and bottom-line estimates in the first quarter. No fewer than 13 analysts lifted their price targets after the event. Heading into today, the stock is 33.6% year-to-date. 
  3. Ulta Beauty Inc (NASDAQ:ULTA) is down 9.9% before the bell, despite the company's strong first-quarter results and raised sales forecast, after comparable sales missed estimates. Plus, the retailer cut its annual operating margin forecast. No fewer than 13 analysts slashed their price targets on ULTA. Year-to-date, the equity is up 3.4%. 
  4. Workday Inc (NASDAQ:WDAY) is up 9.5% in electronic trading, after the company's better-than-expected first-quarter results. Workday also lifted its subscription revenue guidance, and a flood of analysts lifted their price targets. WDAY is up 17.4% since the start of the year. 
  5. See what economic data and earnings are scheduled for next week. 

buzzmay26

Whole Globe Unpacks Economic Data

The stateside tech rally helped stocks in Asia rise to close the week, while Hong Kong’s market was closed for a holiday. Japan’s Nikkei rose 0.4%, even after government data showed the country’s 12-month consumer price index (CPI) came in at 3.2%, while its core inflation reading rose at its fast year-over-year pace since 1982. China’s Shanghai Composite also tacked on 0.4%, while South Korea’s Kospi rounded out the region with a 0.2% pop.

European markets are higher this afternoon, as investors closely monitor U.S. debt ceiling negotiations. Germany’s DAX is up 0.4% at last glance, after reports showed Europe’s largest economy yesterday entered a technical recession. London’s FTSE 100 sports a 0.3% midday lead, after U.K. retail sales volume rose 0.5% in April – higher than economists anticipated – and the International Monetary Fund (IMF) agreed with the Bank of England’s (BoE) view that a recession will not happen this year.  Lastly, the CAC 40 in France was last seen 0.5% higher.

 

 

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