tl;dr
Stock index futures rose on Friday, a day after a favorable labor market report boosted hopes for interest rate cuts, while investors now await consumer sentiment data slated to land later in the day. S&P 500 futures (SPX) 0.3%, Nasdaq 100 futures (US100:IND) 0.4% and Dow futures (INDU) 0.3%. The...
Stock index futures rose on Friday, a day after a favorable labor market report boosted hopes for interest rate cuts, while investors now await consumer sentiment data slated to land later in the day. S&P 500 futures (SPX) 0.3%, Nasdaq 100 futures (US100:IND) 0.4% and Dow futures (INDU) 0.3%. The 10-year Treasury yield (US10Y) was flat at 4.46%. The 2-year yield (US2Y) was unchanged at 4.82%. See how Treasury yields have done across the curve at the Seeking Alpha bond page. The major market averages ended on a positive note on Thursday, buoyed by a rise in the number of Americans filing for initial jobless claims in the last week. "Risk assets posted further gains yesterday, thanks to growing confidence that central banks would still cut rates this year. In part, that was because of the weekly initial jobless claims in the U.S., which hit an eight-month high and added to fears that the labor market was cooling further," Deutsche Bank's Henry Allen said. Discussions on monetary policy also took the spotlight, after the Bank of England held its benchmark lending rate steady, but appeared to be optimistic of inflation easing, signaling that it's moving closer to rate cuts. "The next hurdle will be the U.S. inflation numbers for April next week, but so far this month at least, investors have moved to expect a more dovish stance of monetary policy than they thought would happen at the end of April," Allen added. Investors in the U.S. will now turn to the consumer sentiment report for May that's expected to land during market hours. Economists expect a fall to 76. "U.S. May Michigan consumer sentiment reminds investors why sentiment polls should not be trusted - the gulf between registered Democrats’ and registered Republicans’ views highlights the problems of surveying a polarized society," UBS' Paul Donovan said. There are a slew of Federal Reserve speakers lined up to speak, including Fed Governor Michelle Bowman, Fed presidents Lorie Logan of Dallas, Neel Kashkari of Minneapolis and Austan Goolsbee of Chicago. Fed's Vice Chair for Supervision, Michael Barr, will also take the stage later in the day. On the earnings front, Taiwan Semiconductor (TSM) April revenue surged 59.6% year-over-year, helped by strong AI chip demand.
More about Taiwan Semiconductor Manufacturing
Taiwan Semiconductor Manufacturing Company, Limited (TSMC) is a Taiwanese multinational semiconductor contract manufacturing and design company. It is one of Taiwan's largest companies and the world's most valuable semiconductor company. TSMC is also the world's largest dedicated independent (pure-play) semiconductor foundry, with its headquarters and main operations located in the Hsinchu Science Park in Hsinchu, Taiwan. The company is majority owned by foreign investors.
Industry: Manufacturing, Semiconductors & Related Devices
Market Cap: 744.85 billion
Price/Earnings Ratio: 27.62
Dividend Yield: 5.2%
52-Week High: 54.13
52-Week Low: 0.382
Total Shares Outstanding: 2.245 billion
EPS: 150.12
Beta: 0.09
Volatility: 0.165
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