Stock Market Today: Dow, S&P Live Updates for May. 21, 2021 - Bloomberg

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U.S. futures rose with stocks on Friday as investor optimism got a boost from strong economic readings and earnings reports. Oil climbed.

Contracts on key U.S. benchmarks signaled more equity gains after Thursday’s rebound. Foot Locker Inc. advanced in premarket trading after its quarterly results beat forecasts. European shares climbed after data showing a rebound in services boosted the region’s recovery. Asian shares were mostly higher, although they slipped in China.

Treasury yields were little changed, as was the dollar. Gold hovered around the highest level in more than four months. Bitcoin steadied after a volatile cryptocurrency slump this week.

The global economic revival, the risk of a significant pickup in inflation and Covid-19 flareups in some parts of the world continue to shape market moves. Stocks have been volatile this week, with speculative ardor cooling as minutes from the latest Federal Reserve meeting flagged the possibility of a debate at some point on scaling back stimulus measures. Still, better-than-forecast jobless claims data on Thursday buoyed sentiment.

“We believe there is still an upside story to be told,” said Mark Haefele, chief investment officer at UBS Global Wealth Management. “Beneficiaries of reflation, like financials and energy, still have ‘catch up’ potential, while the relative near-term case for mega-cap tech is less clear.”

Elsewhere, Brent oil trimmed its biggest weekly decline since March. In Europe, Cartier jewelry maker Richemont gained after posting sales that topped estimates.

Click here for the MLIV question of the day: How should markets price in an aging China?

Here are some key events this week:

• Data on existing U.S. home sales for April are due on May 21
• Euro-area finance ministers and central bank chiefs hold an informal meeting. A larger group of EU finance ministers and central bank chiefs will meet May 22

These are some of the main moves in markets:

Stocks

• Futures on the S&P 500 rose 0.3% as of 7:05 a.m. New York time
• Futures on the Nasdaq 100 rose 0.3%
• Futures on the Dow Jones Industrial Average rose 0.3%
• The Stoxx Europe 600 rose 0.4%
• The MSCI World index rose 0.2%

Currencies

• The Bloomberg Dollar Spot Index fell 0%
• The euro was little changed at $1.2217
• The British pound rose 0.2% to $1.4215
• The Japanese yen was little changed at 108.70 per dollar

Bonds

• The yield on 10-year Treasuries was little changed at 1.63%
• Germany’s 10-year yield was little changed at -0.12%
• Britain’s 10-year yield advanced one basis point to 0.85%

Commodities

• West Texas Intermediate crude rose 1.5% to $63 a barrel
• Gold futures fell 0.1% to $1,882 an ounce

— With assistance by Laura Cooper, Eric Lam, and Michael Msika

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Stock Market Today: Dow, S&P Live Updates for May. 21, 2021 - Bloomberg
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