Good morning traders and investors of the r/stocks sub! Welcome to the new trading day and a fresh start! Here are your pre-market stock movers & news on this Thursday, April the 13th, 2023-
S&P 500 futures rise as investors mull over recession risk: Live updates
S&P 500 futures rose slightly Thursday, as investors weighed recession risk following the latest meeting minutes from the Federal Reserve.
Futures linked to the S&P 500 ticked higher by 0.1%. Dow Jones Industrial Average futures was little changed, while Nasdaq-100 futures gained 0.3%.
Stocks ended Wednesday’s session on a down note. The S&P 500 closed 0.41% lower, while the Nasdaq Composite dropped 0.85%. The Dow snapped a four-day winning streak, ending the day down 38.29 points, or 0.11%.
At first, the major averages were higher earlier in the session following the release of March’s consumer price index report, which showed headline pressures slowed last month. The CPI advanced 0.1% month over month in March, and 5% from the prior year.
Traders’ sentiment turned in the afternoon following the release of minutes from the March Federal Open Market Committee meeting. In particular, the Fed expects the recent banking crisis to cause a recession later this year.
“Wall Street went from focusing on a mostly cooler-than-expected inflation report to the Fed Minutes that prompted recession worries as further banking turmoil could be right around the corner as bank earnings near,” said Ed Moya, senior market analyst at Oanda.
Investors will now turn their attention to wholesale inflation data, with the producer price index report from the Bureau of Labor Statistics due out at 8:30 a.m. ET on Thursday. Weekly jobless claims are also due at that time. Wall Street is also eyeing the beginning of major corporate earnings on Friday, with commercial banks including JPMorgan and Citigroup as well as firms like BlackRock reporting.
Julian Emanuel, senior managing director of research at Evercore ISI, says that while pressure remains on stocks more broadly, the price movements themselves aren’t the key focus that’s caught his eye.
“It’s all about earnings,” he said.
STOCK FUTURES CURRENTLY:
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YESTERDAY'S MARKET MAP:
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TODAY'S MARKET MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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THIS AFTERNOON'S AFTER-HOURS EARNINGS CALENDAR:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
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YESTERDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
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FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
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