Stock futures fluctuated and bond yields fell, suggesting that market volatility driven by higher-than-expected inflation data could be easing.
S&P 500-related futures fell 0.8% before flattening after the broad index closed down 1.8% Thursday. Nasdaq 100 futures also rose less than 0.1%, indicating muted moves in technology stocks after the opening bell.
in a Pre-market tradingZillow rose 13% after it reported a jump in revenue for its core unit, although She lost $881 million on her closed business last year. Fintech Affirm plunged 11% after its sales forecast fell short of Wall Street expectations. It fell 21% Thursday.
The primary market fell 2.5% on Friday after it reported a Less profit. The Wall Street Journal reported that the private equity firm was About to agree to buy
WLN 6.08%
POS terminal business, after which shares of the French payments company rose 6%.
The yield on the 10-year Treasury rose to 2.036% before easing back to 2.001%. rose above 2% Thursday to The first time since mid-2019, to close at 2.028%. Yields rise when prices fall. The two-year yield rose to 1.629% on Friday before also reversing moderately.
The move comes as the number of interest rate hikes expected this year will rise. Sebastian Galley, Macro Strategist at
Some believe that rising inflation means companies are forced to raise their prices. But as The Wall Street Journal’s Deon Raboin shows, it’s actually going in the opposite direction: Companies are already driving inflation, and data shows they have been and will continue to raise prices for some time. Illustration: Elizabeth Smiloff
Markets experienced choppy trading this week, dragged by earnings reports and shifting expectations about the likely pace of monetary tightening by central banks. Thursday’s data showed that inflation hit 7.5% in January, The highest level in four decades. A Federal Reserve official said the central bank may have to move more aggressively to curb consumer prices, raising investor concerns.
“Inflation is currently in the public eye, it has become a political question,” said Florian Ilbo, head of macro at Lombard Odier Investment Managers. This worries us, we have an increased risk of errors in monetary policy. This is the first danger we see in 2022.”
The University of Michigan Consumer Sentiment Barometer for February is due out at 10 AM ET.
Offshore, the Stoxx Europe 600 continental index was down 0.5%.
Shares rose 6.5% after the automaker released preliminary results that beat expectations.
In Asia, the Shanghai Composite Index is down 0.7%, while the Hang Seng Index in Hong Kong is down 0.1%. Markets in Japan are closed for a public holiday.
Traders worked on the floor of the New York Stock Exchange on Thursday.
Photo:
David L. Nmic / Associated Press
Write to Anna Hirtenstein at [email protected]
Corrections and amplifications
The yield on the benchmark 10-year Treasury rose to 2.036% before easing back to 1.996%. An earlier version of this article incorrectly stated that the yield rose to its highest intraday level since August 2019. (corrected Feb 11).
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