Stock Futures Resume Gains Despite Hot Inflation Data

Futures tied to the Dow Jones Industrial Average (DJIA), Nasdaq-100 Index (NDX), and S&P 500 Index (SPX) are modestly higher this morning, despite a hotter-than-expected producer price index (PPI) for April. Today's reading brought the future of interest rates into question, and sent bond yields higher as well, after the blue-chip benchmark yesterday snapped its eight-day win streak.

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

• A perfect week for American Express stock.
• These 3 sentiment indicators turned bullish.
• Plus, GME back on the rise; Alibaba stock dips after earnings; and HD brushes off revenue miss.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 1.6 million call contracts and 928,309 put contracts traded on Monday. The single-session equity put/call fell to 0.57, and the 21-day moving average stayed at 0.70.
2. The meme stock mania is back, and usual suspect GameStop Corp (NYSE:GME) stock is again making sharp moves, up 102.4% before the open after adding 74.4% in the previous session. This rally follows Roaring Kitty's first post on social media in the last three years. GME sports a 143.2% quarter-to-date lead.
3. Alibaba Group Holding Ltd (NYSE:BABA) stock is down 4.5% premarket, after the company's net profit for the fiscal fourth quarter missed analysts' expectations amid cautious consumer spending in China. The security is today chipping away at its 9.1% year-to-date lead.
4. Higher interest rates hurt sales of blue chip concern Home Depot Inc (NYSE:HD), which announced a first-quarter revenue miss and earnings beat. HD is 0.2% higher ahead of the bell, however, and has added more than 17% over the past 12 months.
5. A busy week of earnings and inflation data on tap. 

Asian Markets Digest Japan's Inflation Data

Markets in Asia closed mixed, as traders eyed India’s inflation numbers that matched expectations. Data from the Bank of Japan (BoJ) showed April’s corporate inflation was steady year-over-year, while import prices surged 6.4% over the past 12 months, as the yen weakened. For Tuesday’s session, Japan’s Nikkei added 0.5%, South Korea’s Kospi inched 0.1% higher, Hong Kong’s Hang Seng fell 0.2%, and China’s Shanghai Composite finished flat.

Indexes are mostly flat across the pond, as investors await further U.S. inflation news and digest news that Delivery Hero’s Foodpanda business is being purchased by Uber for $1.25 billion. At last glance, London’s FTSE 100 is up 0.2%, France’s CAC 40 is flat, and Germany’s DAX is off 0.1%.