Fed Speak Continues Throughout The Week With Powell Reiterating Yesterday That Rate Hikes Are Unlikely

U.S. stock futures are higher. Stock futures are rising this morning as the April Consumer Price Index (CPI) data came in lighter than expected. CPI increased by 0.3% on a monthly basis, which was cooler than the estimates for a 0.4% increase. On a yearly basis, the index rose by 3.4%, in line with expectations. Core CPI, which excludes food and energy, matched expectations at 0.3% on a monthly basis and 3.6% on a yearly basis. Treasury yields are dropping post-report. April retail sales also hit the docket this morning, coming in unchanged for the month, which was much lower than the anticipated 0.4% reading. Fed speak continues throughout the week, with Jerome Powell reiterating yesterday that rate hikes are unlikely. Looking abroad, Asian equities concluded the session with mixed results, and European equities are ticking higher. Crude prices are lower, while gold prices are rising. Meanwhile, the U.S. Dollar Index is weakening

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