U.S. Stock Futures Are Higher Following Stronger Closing On Friday
U.S. stock futures are higher. Following stronger closing on Friday, primary equity futures are higher. Durable goods for May was +0.7% versus consensus of 0.1% and ex transport was 0.7% compared to estimate of 0.4%. Post announcement, future are still up and 10y treasury yields are roughly 6 bps higher relative to Friday’s close. The peak for 10y yield was 3.48% this month. Treasury yields have edged down over the past week as the economy and inflation are potentially starting to cool with the recent Fed hiking. Global markets are higher. Investors are becoming more optimistic about Chinese economic growth as Covid restrictions are lessened.