Stock indexes were bid higher on Friday a day after the the largest one-session drop in two months. Trading will likely take its cue from government surveys on monthly producer prices and retail sales set for release at 8:30 am.
Growth in the producer price index, a major inflation gauge is expected to have slowed to a 0.6 percent rate. Excluding food and energy costs, prices rose 0.2 according to the Reuters forecast. Retail sales growth is expected to have slowed to 0.4 percent in April.
Bonds were up following declines in the Asian stock markets overnight, whewre investors were concerned about a slowdown in the U.S. economy.
The oil market was singing the same old song this morning of supply disruption in Nigeria and concerns about U.S. supplies ahead of the so-called driving season.
What do they call the winter months? The walking season?Get out and do something nice outside this weekend.
Derek Caney - Editor