U.S. Stock Futures Are Higher Reflecting Constructive Earnings Results From Retailers
U.S. stock futures are higher: Futures markets are looking to a positive opening for equity markets, reflecting constructive earnings results from retailers and lower weekly initial jobless claims. The Core Personal Consumption Expenditures (PCE) for April increased annually at 4.9%, in line with estimates and decrease from 5.2% from last month; it was up monthly at 0.2%, compared to consensus at 0.3%. THE PCE is symbolically called the Fed’s preferred inflation gauge. The 10y treasury yield is trading at 2.74%, flat from its closing level and the short end yields are inching higher post the report and equity futures remain firmly in positive territory. European markets & Asian markets are both up and on Monday with Memorial Day, the U.S markets are closed.