Wall Street week ahead: Investors eye inflation data, Fed minutes after strong March jobs report
ALSO READ: Federal Reserve Bank of Minneapolis Neel Kashkari hints at holding off rate cuts The inflation reading -- consumer price index (CPI) – for March and the minutes of Fed’s March FOMC (Federal Open Market Committee) meeting will be released on April 10 (Wednesday). The producer price index (PPI) data for March is slated to be released on April 11 (Thursday). April 12 (Friday) will see the release of import price index (IPI) data for March and a preliminary report on consumer sentiment for April.
The week will also see the start of the first quarter earnings season. Following companies are due to report quarterly earnings in the week ahead— Lotus Technology, Neogen, PriceSmart, Tilray Brands, Delta Air Lines, Applied Digital, Rent the Runway, Constellation Brands, CarMax, Fastenal, JPMorgan Chase, Wells Fargo, BlackRock, and Citigroup. ALSO READ: More stock market news On Friday, US stocks closed higher on strong jobs report.
The Dow Jones Industrial Average surged 0.77 per cent, the S&P 500 rose 0.96 per cent and the Nasdaq Composite climbed 1.09 per cent. The US dollar rose to 151.57 yen from 151.21 Japanese yen. The euro fell to $1.0834 from $1.0851.
The yield on the 10-year Treasury edged up to 4.40 per cent. The 2-year yield rose to 4.75%. The benchmark US crude oil for May delivery added 32 cents to $86.91 per barrel on Friday.
Brent crude for June delivery gained 52 cents to $91.17 per barrel. Gold for June delivery rose $36.90 to $2,345.40 per ounce. Silver for May delivery added 25 cents to $27.50 per ounce.
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