U.S. stocks are poised to rise on Monday, ahead of the Bureau of Labor Statistics’ consumer price index for April coming out Wednesday. Economists expect a 5% increase from the same month last year, matching March’s data.
Core CPI, excluding volatile food and energy prices, is expected to rise 5.4%, two-tenths of a percentage point less than the prior month. Both indexes are well below last year’s peaks but still much higher than the Federal Reserve’s 2% target.
At 6:17 p.m. Eastern Time on Sunday, Dow Jones Industrial Average futures gained 25 points, or 0.1%, while the S&P 500 futures rose 0.1%, and Nasdaq Composite futures inched up 0.06%.
Crude oil futures (West Texas Intermediate, the U.S. standard) rose 0.5% to $71.73 a barrel. Brent crude, the international standard, climbed 0.4% to $75.58 a barrel.
Notable earnings this week include: Devon Energy, Freshpet, KKR, McKesson, PayPal, and Tyson Foods on Monday; and Airbnb, Air Products & Chemicals, Apollo Global Management, Duke Energy, Duolingo, Electronic Arts, Novavax, Occidental Petroleum, TransDigm Group, and Under Armour report on Tuesday.
Brookfield Asset Management, Roblox, Toyota Motor, Trade Desk, Walt Disney, and Wendy’s report earnings on Wednesday; and Honda Motor, JD.com, Krispy Kreme, PerkinElmer, and Tapestry on Thursday.
This week’s notable economic events include: On Tuesday, the National Federation of Independent Business will release its Small Business Optimism Index for April. On Wednesday, the Bureau of Labor Statistics will release the consumer price index for April.
On Thursday, the Department of Labor reports initial jobless claims for the week ending on May 6; the BLS releases the producer price index for April; and the Bank of England is scheduled to announce its next monetary-policy decision.
On Friday, the University of Michigan will release its Consumer Sentiment Index for May.
Write to Janet H. Cho at [email protected]
Read the full article here
