Futures higher, consumer sentment data ahead - what's moving markets
Investing.com -- U.S. stock futures moved higher on Friday, pointing to an extension of gains on Wall Street registered in the prior session. Markets will get a chance to pour over U.S. consumer sentiment data today, while traders are also preparing for crucial inflation numbers next week. Shares in several Chinese electric vehicle firms fall in Hong Kong trading on reports that the U.S. is preparing to unveil further tariffs against Chinese companies.U.S.
In April, Joanne Hsu, Director of the Surveys of Consumers at the University of Michigan, said that most American shoppers are "reserving judgment about the economy" ahead of the all-important presidential election in November. Bullion prices were now set to break a multi-week losing spree, as some safe haven demand also remained in play amid bets that Israel and Hamas will not reach a ceasefire deal. Reports of fresh U.S. trade tariffs on China also sparked some safe haven demand.Spot prices were set to add more than 2% this week, their first positive week in three. But they still remained well below record highs hit in late-April.
Stronger-than-projected overall import data from China, the world’s biggest oil importer, coupled with a fall in U.S. crude inventories, has raised hopes that global oil demand was improving.This is out of control. The 'funda' in 'fundamental' has left.
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