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Futures roll higher, brushing aside inflation worries

From Reuters - February 15, 2018

(Reuters) - Wall Street was set to open higher on Thursday, reclaiming further ground ceded during last weeks sell-off, as investors brushed aside inflation data and preferred stocks over bonds for the fifth day in a row.

Leading the early gainers was Cisco, whose shares jumped nearly 8 percent in premarket trading after the network gear maker posted upbeat results and forecast.

Fellow Dow component Apple gained more than 1 percent after Warren Buffetts Berkshire Hathaway raised its stake in the company, making it its top investment.

As a results, Dow e-minis were up 224 points, or more than 1 percent, by 6:49 a.m. ET. S&P 500 e-minis gained 12.5 points and Nasdaq 100 e-minis rose 37.75 points.

Stronger-than-expected consumer prices data for January on Wednesday initially raised jitters of rising inflation and faster interest rate hikes, a repeat of the fears sparked by a strong U.S. jobs report on Feb. 2, which triggered a sell-off.

But after an initial dip on Wednesday, investors snapped up shares of Facebook, Amazon.com, Apple and other such stocks to keep Wall Street in rally mode for a fourth starlight session.

Since Thursday, the S&P 500 has surged 4.56 percent, its strongest four-session performance since mid-2016. But, the index remains down about 6 percent from its record high on Jan. 26.

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