On Monday, U.S. stock index futures moved higher ahead of a crucial inflation report later this week that will be scrutinised to see if the Federal Reserve’s attempts to lower prices were working, while regional bank shares extended gains.<\/p>\n\n\n\n
PacWest Bancorp jumped 33% premarket after the business issued a quarterly dividend, extending gains from a Friday comeback. Western Alliance Bancorp, Comerica Inc, and Zions Bancorp all climbed 3.5% to 8.6%.<\/p>\n\n\n\n
Shares of such banks fell for much of last week due to concerns about the failure of First Republic Bank.<\/p>\n\n\n\n
After strong earnings from Apple Inc. and U.S. jobs data reflecting a healthy labour market, U.S. stock indices launched a late-week surge on Friday, with the Dow Jones Industrial Average registering its highest one-day percentage increase since Jan. 6.<\/p>\n\n\n\n
Dow e-minis were up 67 points, or 0.2%, S&P 500 e-minis were up 6 points, or 0.14%, and Nasdaq 100 e-minis were down 4.25 points, or 0.03% at 6:37 a.m. ET.<\/p>\n\n\n\n
On Wednesday, the Labour Department will release inflation statistics, which is expected to indicate that the consumer price index (CPI) rose 0.4% in April after rising 0.1% in March. While excluding the volatile food and energy components, the CPI likely increased 0.4% last month.<\/p>\n\n\n\n
Data on producer prices, weekly jobless claims and on consumer sentiment are all lined up through the week.<\/p>\n\n\n\n
These data points will help investors not only gauge whether the Fed’s aggressive tightening cycle – including its most recent 25 basis point hike last week – is working towards tamping down inflation but also if fears of stagflation are founded.<\/p>\n\n\n\n
American Airlines Group Inc rose 3.0% after J.P. Morgan raised its rating on the company’s stock to “overweight” from “neutral”, while Southwest Airlines Co fell 1.1% as JPM downgraded its stock to “neutral” from “overweight”.<\/p>\n\n\n\n
On earnings, Warren Buffett’s Berkshire Hathaway Inc’s Class B shares rose 1.5% after the company posting a $35.5 billion first-quarter profit, reflecting gains from stocks such as Apple.<\/p>\n","protected":false},"excerpt":{"rendered":"
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