Nasdaq, S&P 500 Futures Rise Ahead Of PPI Data: Analyst Flags Warning Signal That Could Pose Risk To Equity Market Rally



U.S. stocks may open Friday’s session on a mixed note as they aim to close a volatile week. The S&P 500’s record run highlights ongoing upward momentum despite mixed data. Key reports on producer price inflation and consumer sentiment, including inflation expectations, could shape sentiment. Earnings reactions have varied, potentially prompting a neutral response. With a stock market holiday on Monday, trading volume may decrease, following the typical pre-holiday trend.

Cues From Thursday’s Trading

In Thursday’s trading, major indices extended gains as weak January retail sales data fueled rate-cut speculation, lifting stocks. Jobless claims fell more than expected, and regional manufacturing activity for February surpassed expectations. However, import prices surged in January, and industrial production unexpectedly declined.

While the averages initially opened lower, both the Dow Industrials and the S&P 500 soon recovered, mostly staying above the unchanged line, with the latter setting a new record. The Nasdaq Composite moved decisively above the unchanged line by mid-session.

Except for IT stocks, all S&P 500 sector classes closed higher, led by gains in energy, real estate, financial, utility, and real estate sectors. Small-caps once again outperformed on Thursday.

US Index Performance On Thursday

Performance (+/-)

Nasdaq Composite

S&P 500 Index

Dow Industrials

Russell 2000

Analyst Color:

The recent rise in bond yields could portend weakness for equity market, …

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