Artemis Investment Limited – Stock futures rise to extend gains after Powell comments

U.S. stock futures opened higher Tuesday after rallying during the regular trading day, as investors took in reassurances from Federal Reserve Chair Jerome Powell that the central bank was set on using its policies to bring down inflation st
 
HONG KONG - May 17, 2022 - PRLog -- Contracts on the S&P 500 edged higher. The blue-chip index ended Tuesday's regular trading day higher by 2% to settle at 4,088.85. Technology and growth stocks that had been beaten down over the past month recovered some losses, sending the Nasdaq higher by 2.8%. And the cyclical small-cap Russell 2000 also shook off some recent losses, climbing 3.2%.

The market moves Tuesday came following a couple of solid reports on U.S. economic activity, showing both consumer spending and manufacturing production were holding up strongly. U.S. retail sales grew at a 0.9% rate in April after a sharply upwardly revised 1.4% monthly rise in March, suggesting consumers were continuing to spend even as consumer prices have climbed at the fastest rate since the 1980s. The latest print on U.S. industrial production also exceeded estimates with a jump of 1.1% last month, or more than double the expected rise.

The reports reflected ongoing resilience in some of the key components of domestic activity and helped at least temporarily assuage concerns that the U.S. economy might be imminently tumbling into a downturn. And a still-strong economic backdrop has given the Federal Reserve more room to raise interest rates and otherwise tighten monetary policy to bring down inflation without fear of deeply disrupting growth in other areas like the labor market."

About Artemis Investment Limited:

Originally established to assist expatriates access financial services in SE Asia, Artemis Investment Limited is a leading independent, boutique financial advisory firm which now caters to a global client base.

Based in Hong Kong for the last 60 years, we have adapted our services to account for the financial world in the 21st Century. We are a borderless company whose staff come from a variety of backgrounds but are united by one attribute, customer focus and objectives above all else.

We understand that many clients know where they want to be, but may not have the knowledge on how to get there. This is where our specialist expertise within the financial services sector is essential in providing the correct timing, opportunity and ultimately, the correct result to establish a lengthy and equitable relationship. This is something that our 20,000 + clients have learnt first-hand.

To find out more, or to sign up to the Artemis newsletter, visit https://www.artemis-hk.com

Contact
Cherry Hwuang
Marketing Director
***@artemis-hk.com
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