S&P 500 Breaks 5,000: A Historic Milestone

U.S. stock futures remain steady after a record week for the S&P 500, with slight movements observed across major indexes. The S&P 500 marks a historic close above 5,000, while the Dow and Nasdaq show mixed results. A busy week ahead with 61 S&P 500 companies reporting earnings alongside critical economic data releases, including CPI and PPI.

Early Monday trading showed U.S. stock futures hovering near the flatline, indicating cautious optimism among investors after a week that saw the S&P 500 close above the 5,000 mark for the first time, setting records. However, Dow Jones Industrial Average futures dipped slightly by 0.08%. In contrast, the Nasdaq 100 futures saw a 0.07% increase.

Earnings Watch: 61 S&P Giants Set to Report

This week, attention shifts to the earnings season, with 61 S&P 500 companies on the schedule to report. High-profile gig economy companies like Lyft, Instacart, and DoorDash are among those expected to reveal their quarterly performance. Additionally, reports from AutoNation, Kraft Heinz, Hasbro, and Coca-Cola will provide insights into the health of U.S. consumers. Jay Hatfield from Infrastructure Capital Advisors has expressed a bullish outlook on these earnings, citing the strength of the economy as a supporting factor.

NZ’s Inflation Challenge: Orr Aims for 2% Target

Investors are gearing up for a slew of economic data. This includes the closely monitored consumer price index (CPI) set for release on Tuesday. This critical inflation measure is part of a broader array of data expected this week, which includes retail sales, production, and the producer price index (PPI), offering further insights into the economic trajectory. Additionally, global markets like France’s CAC 40 and Germany’s DAX posted cautious gains, reflecting a tempered but positive sentiment worldwide.

In New Zealand, attention is on inflation, with Reserve Bank Governor Adrian Orr pointing out the current 4.7% rate as excessively high and emphasising efforts to bring it down to the 2% target. This international focus highlights the global nature of economic challenges as U.S. markets proceed through earnings season and anticipate domestic economic indicators.

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