Inflation vigil sees single stock sideshows

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Inflation vigil sees single stock sideshows
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Pro-Palestinian encampment at Dalhousie University - May 13, 2024 | SaltWire #news #halifax #protestMacro markets have basically frozen ahead of this week's big U.S. inflation releases, with sideshow entertainment provided by a fresh burst in activity in so-called 'meme stocks' while earnings updates and deals sagas dominated overseas.

Still, with so much riding on this week's data blockbusters, U.S. Treasury yields edged lower and the S&P500 was caught in a narrow range. Stock futures weren't inclined to challenge that pattern early on Tuesday. Chinese stocks were subdued as U.S. President Joe Biden unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products - suggesting an election-year standoff with Beijing.Shares of videogame retailer GameStop surged nearly 75% on Monday after"Roaring Kitty", an account associated with a social media influencer Keith Gill and credited with sparking the 2021 meme stock rally, returned to X.

Apple supplier Foxconn reported a 72% rise in first-quarter profit, boosted by strong demand for computer servers and coming off a low base from the period a year earlier - but it missed forecasts.

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