The article discusses the premarket trading situation for stocks, with investors awaiting key inflation data from the US government. It mentions that US stock futures were flat ahead of the release of the Personal Consumption Expenditures (PCE) price index, which is the Federal Reserve’s preferred measure of inflation. The PCE data could influence the Fed’s decision on future interest rate hikes. The article also notes that shares of Nvidia surged in premarket trading after the chipmaker reported better-than-expected earnings and revenue. Additionally, it mentions that shares of Alibaba and Baidu were rising after China’s government announced measures to support the private sector and technology companies. Overall, the article focuses on the market’s anticipation of the inflation data and its potential impact on stock movements.
Source: https://www.cnn.com/2024/05/24/investing/premarket-stocks-trading-t1-sec/index.html