U.S. stock futures dropped again Thursday as the selling continues on inflation fears — and more in Thursday’s stock market recap.
The Producer Price Index rose 0.5% in April and 11% year over year, in line with expectations. This report tells us how inflation is affecting producers, who pass rising expenses down to consumers.
Treasury yields jumped and the 10-year remained just under 3% Thursday morning as traders sought safety from the major indexes on fears that inflation will stay high even as the economy slows.
In earnings news, entertainment giant The Walt Disney Co. (NYSE: DIS) dropped nearly 5% to $100 per share in premarket trading after lower-than-expected revenue and earnings results.
In this morning’s stock market recap video, you’ll learn why momentum levels are falling… what the major sectors are pointing to right now… whether the S&P 500 is set to bounce or fall further… how to gauge momentum in the Nasdaq… major levels for the long bond… plus my top ETF and option pick!
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