Wall St set to rise ahead of speeches from Fed officials
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Slew of Fed officials set to speak
Novavax surges on revoking going concern doubts, Sanofi deal
SoundHound gains after Q1 revenue beat
Futures up: Dow 0.27%, S&P 0.35%, Nasdaq 0.46%
Updated at 8:25 a.m. ET/1225 GMT
By Sruthi Shankar and Shristi Achar A
May 10 (Reuters) -U.S. stocks were set to rise on Friday, as investors eagerly awaited comments from Federal Reserve officials to get more clarity on the U.S. monetary policy path, after economic data this week supported bets of interest rate cuts.
Wall Street indexes were inching closer to record highs following a selloff last month, as a slew of economic data pointed to a cooling U.S. labor market, raising expectations that the Fed will cut borrowing costs more than once this year.
A much better-than-expected earnings season also helped put the benchmark S&P 500 .SPX and the tech-heavy Nasdaq Composite .IXIC on track for their third consecutive week of gains.
The blue-chip Dow .DJI, currently on its longest daily winning run since December, was set for a fourth week of gains.
"This is the classic point of bad news is good news because the employment data over the last two weeks has been what the Fed has finally been looking for," said Hugh Anderson, managing director at HighTower Advisors.
"Of course it isn't good for the job seeker, but it creates an optimistic environment for the market because now they're looking for their interest rate cuts."
Traders are currently pricing in 45 basis points of rate cuts by the end of 2024, according to LSEG's rate probabilities tool, with the first cut of 25 bps seen in September.
While most Fed policymakers have reiterated that the next policy move will be a rate cut, doubt still remains about when the easing will begin.
There is "considerable" uncertainty about where U.S. inflation will head in coming months, San Francisco Fed President Mary Daly said on Thursday.
Speeches from a host of Fed policymakers — Governor Michelle Bowman, Minneapolis President Neel Kashkari, Dallas President Lorie Logan and Vice Chair for Supervision Michael Barr — during the day, could offer more clues on the rate path.
Investors will also closely monitor the University of Michigan's preliminary survey of consumer sentiment for May, which is due at 10 a.m. ET.
By 8:25 a.m. ET, S&P 500 e-minis EScv1 rose 18.25 points, or 0.35%. Nasdaq 100 e-minis NQcv1 climbed 82.75 points, or 0.46%, and Dow e-minis 1YMcv1 added 107 points, or 0.27%.
Nvidia NVDA.O gained 1.4% in premarket trading after Taiwan Semiconductor Manufacturing Co 2330.TW, the world's largest chipmaker and a major supplier to Nvidia, reported a near 60% jump in April sales.
Novavax shares NVAX.O doubled in value after the vaccine maker removed doubts about its ability to remain in business and struck a licensing deal worth up to $1.2 billion with Sanofi SASY.PA for COVID-19 vaccines.
Akamai Technologies AKAM.O fell 8% after it forecast second-quarter revenue and profit below Wall Street estimates, anticipating weak demand for its content delivery services.
SoundHound AI SOUN.O, which allows humans to interact conversationally with products such as phones and cars through its technology, jumped 15.2% after its first-quarter revenue beat market estimates.
Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru; Editing by Shounak Dasgupta and Shinjini Ganguli
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
