US markets closed slightly higher yesterday, supported by softer-than-expected inflation readings and strong bank earnings. Stock futures are trading little changed this morning ahead of the 9:30 ET open, with investors watching upcoming retail sales, labor data, and the Producer Price Index (PPI).
Yesterday's Close
The S&P 500 and Nasdaq posted gains while the Dow finished nearly flat. Cooler inflation data boosted risk appetite, and bank earnings provided additional support to the rally that began on Tuesday.
Morning Focus
- PayPal (PYPL): Shares surged around 20% on reports of a joint buyout offer from Stripe and Advent International at $60.50 per share.
- BlackRock (BLK): Rose about 4% after reporting $192 billion in Q2 net inflows, with assets under management topping $15 trillion for the first time.
- ASML: Gained roughly 3% after raising its annual sales forecast for the second time this year on AI-driven demand.
- Elevance Health (ELV): Fell about 7% after raising profit guidance below expectations.
- Pentair (PNR): Plunged 22% after cutting full-year EPS guidance.
What to Watch Today
Traders are awaiting retail sales and labor market data later in the week, along with the PPI print as another key inflation gauge. Futures are currently indicating a relatively quiet open. Markets will also monitor developments in the Middle East that could affect risk sentiment.
The overall picture remains constructive but cautious as the session begins.
