May 6 2024: U.S. stock futures are on the rise as investors adjust their expectations for Federal Reserve interest rate cuts following softer April employment data. This week, attention will be on speeches by Fed officials, offering insights into the future of borrowing costs. Additionally, major companies like Walt Disney and Wynn Resorts are set to report quarterly earnings. Here’s a closer look at what’s moving the markets:
Futures Trend Upward
U.S. stock futures are higher as investors consider potential Federal Reserve interest rate adjustments based on last month’s employment report.
Focus on Fed Speakers
This week, several Fed policymakers are scheduled to speak, providing further clarity on the direction of interest rates.
Earnings Season Continues
Companies like Walt Disney, Wynn Resorts, and Akamai Technologies are among those reporting earnings, marking the final stretch of the quarterly earnings season.
Chinese Services Data
China’s services sector showed steady growth in April, indicating resilience in certain aspects of the economy.
Oil Prices on the Rise
Oil prices climbed after Saudi Arabia adjusted its crude selling prices for June, amid ongoing geopolitical tensions in the Middle East.
