Last updated: 4:00 PM EST
Stock indexes ended today’s trading mixed. The S&P 500Spocks) and the Dow Jones Industrial Average (DJIA) fell 0.04% and 0.15%, respectively. Meanwhile, the Nasdaq 100 (Nedix) rose 0.42%. On Friday, the University of Michigan released preliminary results on consumer inflation expectations over the next five years. Consumers now expect inflation to be 3.1%, above the 3% forecast and up from the previous month.
Looking at consumer sentiment, the reading was 65.6, below the 72.1 expected. This was down from last month’s 69.1. Consumer expectations were also lower, coming in at 67.6 in June compared to the 70 expected, also down from last month’s reading of 68.8.
First Published: 3:01 AM EST
On Friday morning, the S&P 500 index (Spocks) and the Nasdaq Composite Index ended the fourth consecutive trading day with gains.Nedix) and the S&P 500 were up 0.26% and 0.07%, respectively, as of 2:33 a.m. ET on June 14. Meanwhile, the Dow Jones Industrial Average (DJIA) fell 0.03%.
The Dow Jones Industrial Average fell 0.17% yesterday. However, the S&P 500 and Nasdaq Composite Indexes rose 0.23% and 0.34%, respectively. The gains were driven by the May Producer Price Index report indicating easing inflationary pressures, raising hopes of interest rate cuts.
Other major news yesterday included Tesla (TSLA) shares rose about 3% in the regular trading session after shareholders reapproved CEO Elon Musk’s $56 billion compensation package.AVGO) rose 12.3% after a 10-for-1 stock split.Adobe) shares surged 14.8% in yesterday’s extended trading session after the company reported better-than-expected second-quarter results.
Turning to the major economic reports scheduled for release today, the University of Michigan will release preliminary June consumer confidence figures.
Meanwhile, the yield on the 10-year US Treasury note has risen and is hovering around 4.26% at the time of writing. At the same time, WTI Crude Oil futures are trending lower, hovering around $78.1 per barrel as of last check.
Meanwhile, European markets are expected to open higher today as investors continue to assess a weaker than expected US inflation report.
Asia Pacific markets rise on Friday
Most Asia Pacific stock indexes rose today as the Bank of Japan kept its policy interest rate unchanged.
At the time of writing, Japan’s Nikkei and TOPIX are up 0.24% and 0.54%, respectively. Similarly, China’s Shanghai Composite and Shenzhen Composite are up 0.04% and 0.38%, respectively. However, Hong Kong’s Hang Seng Index is down 0.6%.
Interested in more economic insights? Join us for a live webinar.
Disclosure
