- US index futures are trading slightly lower today, but they continue to maintain a strong upward trend; the US500 is hovering near 6,920 points, around 100 points below its all-time high.
- The key macro releases today will include US small business sentiment (NFIB) at 11 AM GMT, ADP data, and most importantly the March US PPI inflation reading at 1:30 PM GMT. Israel is also set to begin negotiations with Lebanon, while numerous central bankers from both the Fed and the ECB are scheduled to speak on the economic outlook.
- China’s Hang Seng has erased a significant portion of its recent gains. March data showed export growth of 2.5% YoY, well below forecasts of 8.6% and down sharply from 39.6% YoY in February. Imports rose by 27.8%, compared to expectations of 13.9% and 13.8% previously. The trade balance fell to $51.13 billion in March, versus forecasts of $107.55 billion and $90.98 billion previously.
- Expectations for the upcoming US earnings season are high; analysts have raised their profit forecasts in recent months. According to Morgan Stanley, the average price-to-earnings ratio for S&P 500 companies has declined by 18%.
- The US Dollar Index futures have pulled back to levels not seen since the early stages of the Middle East conflict, giving up earlier gains. EURUSD is trading above 1.17 ahead of the US PPI inflation release.
- Bitcoin has risen above $74,000 and is attempting to reverse its downward trend. The cryptocurrency is up nearly 1.7% today, while Ethereum is gaining over 4%, supported by improved sentiment toward risk assets and declining US bond yields.
- According to US Energy Secretary Wright, a major US company is expected to soon announce an increase in oil production in Venezuela. Nvidia has denied reports of a potential acquisition of computer and laptop manufacturer Dell.
US500 and USDIDX (charts, daily timeframe)

Source: xStation5

Source: xStation5
Daily Summary: U.S. stock indices are climbing following the PPI data
US OPEN: Wall Street Rallies on Soft PPI Data
BREAKING: US PPI comes in weaker than expected. EURUSD gains ground
JP Morgan earnings: Good, but it could have been better