U.S. Equity Futures Hold Flat After S&P 500 Hits 7,572 on Cooler Inflation
Updated
Updated · CNBC · Jul 15
U.S. Equity Futures Hold Flat After S&P 500 Hits 7,572 on Cooler Inflation
3 articles · Updated · CNBC · Jul 15
Summary
Dow futures edged up 15 points, or 0.03%, late Wednesday, while S&P 500 and Nasdaq 100 futures added 0.05% and 0.11% after a broad rally in regular trading.
Softer-than-expected producer prices, lower Treasury yields and solid bank earnings lifted stocks earlier, with the S&P 500 closing up 0.4% at 7,572.43 and the Nasdaq rising 0.6%.
Lower yields especially boosted mega-cap technology shares, and Piper Sandler's Michael Kantrowitz said a sideways-to-lower rate backdrop is needed for the market rally to broaden.
Thursday's retail sales and jobless claims data are the next test of whether growth is cooling enough to restrain inflation without tipping the economy into a sharper downturn.
Earnings remain a parallel driver, with UnitedHealth due before the bell and Netflix scheduled to report after the close.