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Barchart
Barchart
Oleksandr Pylypenko

Stocks Set to Open Lower as Investors Await U.S. Inflation Data and Big Bank Earnings

Inflation United States China Thomas Barkin US Federal Reserve Economy Wells Fargo

March S&P 500 E-Mini futures (ESH24) are down -0.16%, and March Nasdaq 100 E-Mini futures (NQH24) are down -0.17% this morning as market participants looked ahead to the release of U.S. inflation data while also bracing for the start of earnings season later in the week.

In Friday’s trading session, Wall Street’s major averages closed in the green. Elanco Animal Health (ELAN) climbed over +6% after Stifel upgraded the stock to Buy from Hold with a price target of $20. Also, regional bank stocks advanced, with Zions Bancorporation (ZION) and Citizens Financial Group Inc (CFG) rising more than +3%. In addition, Carnival Corporation (CCL) gained over +2% after Wells Fargo Securities upgraded the stock to Overweight from Equal Weight with a price target of $22. On the bearish side, International Business Machines (IBM) dropped about -1% after Jefferies initiated coverage of the stock with a Hold rating and a $180 price target.

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