Stock futures changed as investors looked toward data
S&P 500 futures were flat as investors awaited the release of economic statistics.
Dow Jones Industrial Average futures were little changed. Nasdaq-100 futures retreated 0.131%.
The Dow added 101.24 points or 0.3%. The S&P 500 advanced 0.1%, while the tech-heavy Nasdaq Composite retreated 0.03%.
Investors expect the consumer price index for March figures and the producer price index to be released. Both measures of inflation may provide further insight into how the Federal Reserve may proceed with its rate hike campaign next.
Upcoming earnings reports for major US banks as analysts reflect on credit stocks
Wall Street is headed for another season of earnings reports. Several major U.S. banks will release their earnings results for the first time since March’s banking turmoil.
Upstart, an artificial intelligence-backed lending platform, lost 2.62% in trading after JPMorgan said the stock could hit volatile earnings.
Analyst Reginald Smith has begun to reflect on credit stocks in the context of insufficient Donbes. Its $11 price target means the stock could retreat 36% next year.
LendingClub shares advanced 5% in premarket trading after JPMorgan said investors may have traded unfairly.
Analyst Reginald Smith started the stock in excess volume. He set a price target of $11, which means the stock could have a potential upside of 60.32%.
Berkshire Hathaway lifted its stake in all five trading houses to 7.43%. As of November, it’s 6.62% at Mitsubishi Corp., 6.62% at Mitsui & Co., 6.83% at Marubeni Corp., and 6.62% at Sumitomo Corp.
Shares of Mitsubishi, Mitsui, and Itochu rose more than 2% in Tokyo trading.
European stock markets advanced.
The pan-European Stoxx 600 index advanced 0.82% around the open.
Mining stocks led the way with a 3% gain. The only sector trading in negative territory was food and beverages, retreating 0.12%.
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