Stocks Set to Open Higher as Investors Await U.S. Jobs Data and Fed Speak
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June S&P 500 E-Mini futures (ESM2024) are up +0.37% and June Nasdaq 100 E-Mini futures (NQM2024) are up +0.54% this morning. Wall Street's major averages closed mixed, with the benchmark S&P 500 reaching a new all-time high. Estee Lauder climbed over +6% after an upgrade from Bank of America. Walgreens Boots Alliance advanced more than +3% after reporting better-than-expected Q2 results. RH surged over +17% after providing a stronger-than-expected FY24 revenue growth forecast. MillerKnoll tumbled more than -18% after reporting mixed Q3 results and issuing below-consensus Q4 guidance. U.S. core PCE price index came in at +0.3% m/m and +2.8% y/y in February. U.S. personal spending climbed +0.8% m/m in February. U.S. personal income rose +0.3% m/m in February. Fed Chair Jerome Powell stated that the U.S. central bank is not in a hurry to lower interest rates. U.S. rate futures have priced in a 3.9% chance of a rate cut in May and a 65.9% probability of a rate cut in June. The upcoming week will feature the U.S. Nonfarm Payrolls report for March and other economic data releases. Several Federal Reserve officials, including Jerome Powell, will be making appearances this week. China's Shanghai Composite Index closed higher, with signs of economic recovery boosting sentiment. Japan's Nikkei 225 Stock Index closed lower due to a slight deterioration in confidence among large manufacturers. Pre-market U.S. stock movers include Torrid Holdings, Applied Therapeutics, T-Mobile, Cameco, Devon Energy, and Oracle. Major European markets are closed for Easter Monday. Asian stock markets settled mixed. United States 10-year rates are at 4.202%.

#StockMarket #UsJobsData #FederalReserve

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