Stock futures opened little changed Thursday evening after a surge during the regular trading day, which saw the major U.S. equity indexes recover some losses after three straight days of declines.
Contracts on the Dow edged higher after the index posted its best single-session gain since March. Contracts on the S&P 500 and Nasdaq were little changed after advancing strongly earlier.
Shares of Disney (DIS) slid after the company posted quarterly revenue that missed estimates, with subscribers to Disney+ falling short of Wall Street’s expectations and the firm’s theme parks division losing money for a fourth straight quarter. Coinbase (COIN) shares were little changed even after the crypto exchange’s first results as a newly public company missed expectations. Home rental company Airbnb (ABNB) topped first-quarter sales estimates but posted a wider-than-expected quarterly loss, sending shares slightly lower in late trading.
Investors this week especially have been nervously eyeing signs of inflation in the economic recovery coming out of the pandemic. Both consumer and producer prices surged in April over last year, reflecting both an inevitable bounce off last year’s virus-depressed levels, as well as upward price pressures as demand across supply chains outstripped supply. Consumer prices surged by a faster than expected 4.2% year-over-year last month, government data showed earlier this week. And producer prices also came in higher than expected, with core producer prices rising 4.1% last month versus the 3.8% increase expected.
