The Stock Market is Seeing a Boost in Pre-Market Trading Thanks to Strong Earnings from Tech Companies
U.S. stock futures are higher. The stock market is seeing a boost in pre-market trading, thanks to strong earnings reports from large tech companies. Yields are on the rise, despite weaker than expected GDP growth in the first quarter. Preliminary data shows that GDP rose 1.1% in Q1, compared to economist estimates of a 2.0% increase. However, weekly initial jobless claims rose less than expected, with 230,000 claims compared to estimates of 248,000 and the previous reading of 246,000. Tomorrow before the bell, PCE inflation data for March will be released. In Europe, stocks are on the rise, while Asian stocks finished the session mixed. The dollar is strengthening and the price of gold is little changed. Crude oil prices are rebounding from their lowest levels since surprise OPEC+ production cuts were announced late last month.