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Stock Futures Mostly Up Pre-Bell Ahead of Producer Price Index Report; Asia Rises, Europe Down
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Stock Futures Mostly Up Pre-Bell Ahead of Producer Price Index Report; Asia Rises, Europe Down
Jun 13, 2024 4:59 AM

07:17 AM EDT, 06/13/2024 (MT Newswires) -- The benchmark US stock measures were mostly pointing higher before Thursday's open as traders gear up for the release of last month's producer price index report.

The S&P 500 futures edged up 0.1% and the Nasdaq added 0.6% in premarket activity, while the Dow Jones Industrial Average declined 0.4%. The majority of Asian exchanges were trending upwards, while European bourses were tracking in the red.

The PPI report is scheduled for an 8:30 am ET release. The data comes after the Bureau of Labor Statistics reported on Wednesday that consumer-price inflation unexpectedly stalled in May on a sequential basis while dipping more than forecast at the annual level.

The weekly jobless claims bulletin is out at 8:30 am on the economic calendar, followed by the weekly EIA domestic natural-gas supplies report at 10:30 am. Federal Reserve Bank of New York John Williams is slated to speak at 12 pm.

Shares of Tesla (TSLA) popped 5.2% pre-bell ahead of the electric vehicle maker's annual shareholder meeting, with investors set to vote on Chief Executive Elon Musk's huge pay deal. Broadcom ( AVGO ) jumped 13% after the chipmaker recorded better-than-expected fiscal second-quarter results and announced a 10-for-1 stock split. Dave & Buster's Entertainment (PLAY) dropped about 11% as it missed market estimates for first-quarter revenue.

Signet Jewelers ( SIG ) , Korn Ferry ( KFY ) and John Wiley & Sons ( WLY ) report their latest financial results early Thursday, among others. Adobe (ADBE) and RH (RH) post earnings after the markets close.

Before the opening bell, bitcoin decreased 0.8% to $67,550, West Texas Intermediate crude oil retreated 0.8% to $77.85 a barrel, yields on 10-year Treasuries inclined 1.3 basis points to 4.31% and gold moved down 0.9% to $2,334 an ounce.

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