“U.S. Stock Futures Fall Slightly on Amazon’s Warning and Core PCE Inflation”

Investing.com – U.S. stock futures fell slightly ahead of the market open on Friday (28th), as Amazon’s warning of slowing growth and a higher-than-expected core inflation gauge slightly dampened the market. Before the deadline, it fell more than 100 points, and fell slightly by 0.2% to 0.3%.

Data showed that the Fed’s favorite core PCE price index slowed to an annual rate of 4.6% from 4.7% in March, but was slightly higher than the expected 4.5%. The first quarter PCE price index announced yesterday (27th) was also higher than expected.

However, the annual rate of the overall PCE price index slowed sharply, from 5.1% to 4.2%, the lowest since August 2021.

U.S. stock futures fluctuated up and down after the release of the data, with the mixed data adding to uncertainty about the future outlook for Fed policy. The market may be more cautious ahead of the Federal Reserve’s interest rate meeting next week.

At present, analysts generally believe that the Fed will raise interest rates by 25 basis points next week, but the future outlook is not clear, especially yesterday’s data showed that GDP slowed more than expected.

CITIC Securities also stated that although the Fed can still focus on inflation in the short term, in the medium and long term, credit contraction and the risk of economic recession are expected to gradually become important influencing factors for monetary policy formulation. Therefore, there is a high probability that the Fed will stop raising interest rates after May, and the possibility of cutting interest rates this year cannot be ruled out.

Later, the University of Michigan’s April consumer confidence index and inflation expectations are worthy of attention.

Individual stocks before the market opens

Shares of Amazon (NASDAQ: ) fell more than 3 percent after Amazon warned of a slowdown in growth at its cloud-computing unit AWS, which is the main source of Amazon’s profits.

Intel ( Intel ) (NASDAQ: ) rose more than 6%, despite posting its largest quarterly loss in the company’s history, but said gross margins would improve in the second half of the year.

Snap (NYSE: ) fell more than 18% as the ad platform adjusted for lower ad demand and missed quarterly revenue expectations.

Shares of Pinterest (NYSE: ) fell more than 10% after the company forecast weaker-than-expected second-quarter revenue growth due to a pullback in ad spending.

Exxon Mobil( Exxon Mobil ) (NYSE: ) rose 0.8 percent after record first-quarter profit as higher production offset lower prices.

Chevron ( Chevron ) (NYSE: ) edged down 0.3%, the first quarter results beat expectations, but oil and gas business revenue fell.

Sony (NYSE: ) fell 3 percent, forecasting a pullback in profits from record highs due to weakness in the financial services business.

Cloudflare (NYSE: ) fell 24% after it missed first-quarter revenue expectations and issued a downbeat full-year forecast.

First Republic Bank ( First Republic Bank ) (NYSE: ) rose 5 percent on reports that the U.S. government is coordinating emergency talks to bail out First Republic Bank.

Chinese stocks

China Internet ETF KraneShares CSI China Internet (NYSE: ) fell 0.36%.

Weilai Automobile (NYSE:) (HK:) fell 0.69%, Ideal Automobile (NASDAQ:) (HK:) rose 0.13%, and Xiaopeng Automobile (NYSE:) (HK:) fell 1.54%. Mavericks Electric (NASDAQ: ) rose 0.82%.

Bilibili (NASDAQ:) (HK:) rose 0.10%, iQiyi (NASDAQ:) fell 0.85%, and Huya (NYSE:) rose 2.24%.

Alibaba (NYSE: ) (HK: ) fell 0.76%, JD.com (NASDAQ: ) (HK: ) fell 0.43%, and Pinduoduo (NASDAQ: ) fell 0.62%.

Baidu (NASDAQ: ) (HK: ) fell 0.54%.

other markets

After the release of the US PCE price index, gold and the US dollar also fluctuated up and down without any obvious trend.

Before the deadline:

financial report

Before the market opens: Colgate Inc (NYSE: ), Charter Communications (NASDAQ: ), JinkoSolar (NYSE: ), Lazard Ltd (NYSE: ).

Full earnings report today at Investing.comEarnings Calendar。

Economic Data and Events

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Editor: Liu Chuan