S&P 500 futures hover at record high as investors shrug off surging inflation, while bond yields fall to 3-month lows

SourceBusiness Insider
SectorFinancial Markets

S&P 500 futures hovered near a record high on Friday after data showed that US inflation surged more than expected in May, but weekly jobless claims fell to a pandemic-era low. Bond yields fell back to their lowest level since March, in a sign that the market believes strong inflation will prove transitory, as the Federal Reserve has long argued. rose 0.06% on Friday morning in Europe to trade at around a record high.

The scaled new heights a day earlier, rising 0.47%. rose 0.12% after the index eked out a small gain on Thursday. futures were roughly flat, following a 1.05% jump for the index a day earlier. US consumer price index inflation year on year in May, figures released on Thursday showed, higher than the 4.7% rise economists were expecting. Inflation rose 0.6% from April to May, however, lower than the 0.8% jump from March to April. In a reversal of recent trends, bond yields fell and helped...read more...