Stocks Claw Back Early Week Losses
May 14,2021 08:32 am EST
U.S. stocks were set to gain for a second day after starting the week with big losses.
Futures for the Dow Jones Industrials popped 170 points, or 0.5%, to 34,111.
Futures for the S&P 500 gained 27.25 points, or 0.7%, to 4,134.25.
Futures for the NASDAQ Composite index hiked 138.25 points, or 1%, to 13,238.50.
Still, the major averages are on track for hefty losses for the week as inflation fears hit sentiment.
The Dow is down 2.2% for the week, while the S&P has shed 2.8%. Tech stocks have been hit especially hard, pulling the NASDAQ down 4.6% for the week.
Tech stocks were the biggest outperformers in pre-market trading Friday. Tesla gained 2.5%. Twitter was up 2.2%. Facebook, Apple, Amazon, Netflix and Alphabet were all trading in the green.
Disney shares were bucking the trend, falling about 3% in premarket trading after posting weaker-than-expected revenue and streaming subscribers.
The Centers for Disease Control and Prevention eased guidelines on Thursday, saying that in most settings fully vaccinated people don''t need to wear masks indoors or outdoors.
United Airlines and American Airlines were higher again in pre-market trading Friday, along with Boeing.
Retail sales figures for April will be released on Friday, along with industrial production and consumer sentiment numbers.
Overseas, in Japan, the Nikkei 225 hiked 2.3%, while in Hong Kong, the Hang Seng index jumped 1.1% Friday.
Oil prices leaped 81 cents to $64.63 U.S. a barrel.
Gold prices increased $13.50 to $1,837.50 U.S.
Currencies