Wall Street is poised to bounce back after surprisingly hot U.S. inflation data sent stocks tumbling this week, the Associated Press reports. Futures for the S&P 500 rose 0.5% before the bell, and futures for the Dow Jones Industrial Average gained 0.3%.
With little in the way of market-moving economic data to be released today, the focus is back on corporate earnings.
Lyft shares jumped 62% after the bell Tuesday thanks to a typo in the ride-hailing company’s earnings release that sent investors’ algorithms — also known as “bots” — into a buying frenzy. Shares retreated after the correction but remained nearly 22% higher before the bell after the company topped most expectations for the quarter.
Online vacation rental booker Airbnb slid 5% after it reported losing $349 million in the fourth quarter due to an income tax settlement with Italy.
In other trading, benchmark U.S. crude picked up 16 cents to $78.03 per barrel. Brent crude, the international standard, rose 22 cents to $82.99 per barrel.
The U.S. dollar was hovering back above 150 Japanese yen, falling to 150.65 yen from 150.86 yen.
