DJIA futures recover above 50,000 as traders assess mixed US economic data and upcoming Fed commentary.
Dow Jones Industrial Average futures climbed back above 50,000 in overnight trading, erasing a 0.1% decline in the cash index on Wednesday. The rebound followed a mixed batch of US economic reports, including a hotter-than-expected Producer Price Index print and steady retail sales data.
April’s PPI surged 1.4% month-over-month and 6% year-over-year, the steepest annual rise since December 2022. Retail sales matched forecasts at 0.5% MoM, though growth slowed from March’s upwardly revised 1.6%. Treasury yields stabilized below recent highs after spiking on the inflation data.
The S&P 500 and Nasdaq Composite remained near record closes from Wednesday, while a softer US Dollar and lower crude prices supported sentiment in Asian and European markets.