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Sunday, June 26, 2022

Salesforce Stock Climbs on Outlook, Stock Futures Mixed, Eye Fed

The Thursday Market Minute

  • Global stocks ease from record highs following a rate hike in South Korea and ahead of tomorrow’s Jackson Hole summit.
  • Asia stocks slide after the first Bank of Korea rate hike in 3 years, while Europe drifts on soft consumer sentiment data from Germany.
  • Treasury bond yields move higher in thin trading volume ahead of Fed Chair Powell’s virtual address Friday, with 10-year notes trading at 1.357%.
  • Oil prices fall for the first day in four as traders trim bets on energy demand while tracking COVID cases in Asia and Europe.  
  • U.S. equity futures suggest a softer open on Wall Street ahead of weekly jobless claims and GDP data  at 8:30 am Eastern time and second quarter earnings from Dollar General and Dollar Tree.

U.S. equity futures traded mixed Thursday, while commodity prices eased and Treasury yields gapped higher, as investors prepare for a key reading on domestic inflation ahead of tomorrow’s central bank summit in Jackson Hole.

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