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Jobs Report, Producer Price Index Prospects Lift Wall Street Pre-Bell; Asia Up, Europe Gaining

MT Newswires logo MT Newswires 12/9/2022 MT Newswires

Primary Image © MT Newswires Primary Image Wall Street futures pointed higher pre-bell Friday after Thursday's jobless claims report that was in line with expectations, and on prospects for a potentially more dovish Federal Reserve. Traders also await the 8:30 am ET release of the November producer price index and clues therein to the inflation picture.

In the futures, the S&P 500 rose 0.3%, the Nasdaq inclined 0.4% and the Dow Jones was up 0.2%.

Asian exchanges traded mostly north overnight on more reports of Beijing easing pandemic curbs. Europe was tracking moderately higher midday on the continent.

Broadcom (AVGO) traded up 4.8% pre-bell after the chipmaker reported earnings Thursday that topped expectations, and offered a solid outlook.

Li Auto (LI) and Johnson Outdoors (JOUT) plan to report earnings pre-bell, among others.

On the economic calendar, in addition to the PPI report, is the University of Michigan consumer sentiment bulletin at 10 am ET. Wholesale inventories data also post at 10 am ET.

The weekly Baker Hughes domestic oil-and-gas bulletin posts at 1 pm ET.

In pre-market action, Bitcoin traded at $17,215, West Texas Intermediate crude oil traded higher at $72.07, and 10-year US Treasuries offered 3.48%. Gold traded for $1,793 an ounce.

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