📈 Stock futures rise ahead of a key inflation report, ending the week positive?
Stock Index Futures are pointing to a higher start, and possibly a winning week? - Here's what is happening in the markets today, Friday, May 28th.
Stock Index Futures are pointing to a higher start, and possibly a winning week?
Here's what is happening in the markets today, Friday, May 28th.
Yesterday, the weekly jobless claims report came in better than expected, and markets moved higher.
The S&P 500 is up 1.08% week to date and sits less than 1% from a record. The DOW is 0.75% higher for the week, while the Nasdaq has gained nearly 2%.
Today is the last trading day of the month: For the month of May, the S&P 500 is essentially flat, while the Dow is up 1.7%. The Nasdaq is off by about 1.6%.
This morning on the economic calendar: The PCE Core Price Index will be closely watched for signs of inflation. The PCE (which excludes volatile food and energy prices) is expected to have increased 2.9% in April year-over-year,
Earnings News:
Ulta Beauty (ULTA) reported quarterly earnings of $4.07 per share, more than twice the $1.95 a share consensus estimate. They also raised its full-year guidance, with cosmetics sales rising as the pandemic recedes. The stock jumped 6% in premarket action.
Salesforce.com (CRM) shares rallied 5.2% in the premarket after it reported quarterly earnings of $1.21 per share, topping the 88 cents a share consensus estimate. Their revenue exceeded analysts’ forecasts as well, helped by strength in its “Customer 360” platform.
Hibbett Sports (HIBB): Another sporting goods retailer’s shares surged 5.8% in the premarket after it reported quarterly earnings of $5.00 per share, beating the consensus estimate of $2.77. Revenue exceeded expectations as well amid an 87.3% surge in same-store sales. Hibbett also raised its full-year forecast in anticipation of benefiting from pent-up demand.
Costco (COST) earned $2.75 per share for its latest quarter, compared to a consensus estimate of $2.35 a share. They warned of increasing costs for products and worker salaries.
Ford (F) was higher once again, up 1% in premarket trading Friday. The stock is up 11% this week so far after unveiling a new electric vehicle strategy.
Based on forecasts for Memorial Day weekend, more than 37M Americans are expected to travel from Thursday to Monday, which is up 60% from last year. The need to get out follows a successful coronavirus vaccination campaign, as well as a reduction in COVID-19 cases, and comes despite gas prices that have skyrocketed across the country (90% of travelers will be driving).
WallStreetBets is active again: AMC shooting up as much as 47%. Shares of the movie-theater chain closed 35.6% higher while another meme stock, GameStop (GME) gained 4.8%.
This wraps up today's stock market news.
If you enjoyed the "Stock Market Today" video, make sure to subscribe to this podcast.
And for more stock market news, visit https://rockwelltrading.com.
#todaysstockmarket #stockmarkettoday #stockmarket
Here's what is happening in the markets today, Friday, May 28th.
Yesterday, the weekly jobless claims report came in better than expected, and markets moved higher.
The S&P 500 is up 1.08% week to date and sits less than 1% from a record. The DOW is 0.75% higher for the week, while the Nasdaq has gained nearly 2%.
Today is the last trading day of the month: For the month of May, the S&P 500 is essentially flat, while the Dow is up 1.7%. The Nasdaq is off by about 1.6%.
This morning on the economic calendar: The PCE Core Price Index will be closely watched for signs of inflation. The PCE (which excludes volatile food and energy prices) is expected to have increased 2.9% in April year-over-year,
Earnings News:
Ulta Beauty (ULTA) reported quarterly earnings of $4.07 per share, more than twice the $1.95 a share consensus estimate. They also raised its full-year guidance, with cosmetics sales rising as the pandemic recedes. The stock jumped 6% in premarket action.
Salesforce.com (CRM) shares rallied 5.2% in the premarket after it reported quarterly earnings of $1.21 per share, topping the 88 cents a share consensus estimate. Their revenue exceeded analysts’ forecasts as well, helped by strength in its “Customer 360” platform.
Hibbett Sports (HIBB): Another sporting goods retailer’s shares surged 5.8% in the premarket after it reported quarterly earnings of $5.00 per share, beating the consensus estimate of $2.77. Revenue exceeded expectations as well amid an 87.3% surge in same-store sales. Hibbett also raised its full-year forecast in anticipation of benefiting from pent-up demand.
Costco (COST) earned $2.75 per share for its latest quarter, compared to a consensus estimate of $2.35 a share. They warned of increasing costs for products and worker salaries.
Ford (F) was higher once again, up 1% in premarket trading Friday. The stock is up 11% this week so far after unveiling a new electric vehicle strategy.
Based on forecasts for Memorial Day weekend, more than 37M Americans are expected to travel from Thursday to Monday, which is up 60% from last year. The need to get out follows a successful coronavirus vaccination campaign, as well as a reduction in COVID-19 cases, and comes despite gas prices that have skyrocketed across the country (90% of travelers will be driving).
WallStreetBets is active again: AMC shooting up as much as 47%. Shares of the movie-theater chain closed 35.6% higher while another meme stock, GameStop (GME) gained 4.8%.
This wraps up today's stock market news.
If you enjoyed the "Stock Market Today" video, make sure to subscribe to this podcast.
And for more stock market news, visit https://rockwelltrading.com.
#todaysstockmarket #stockmarkettoday #stockmarket