Stock futures mixed with more inflation data on tap : Share market news today

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stock futures were mixed on Thursday morning as producer price growth came in lower than expected and regional banking concerns weighed on markets.

Regional banking concerns were weighing on markets Thursday morning as PACWest (PACW) reported that outflows resumed in May. PacWest shares plunged 20% in pre-market trading after the company disclosed in an SEC filing Its deposits fell 9.5% in the first week of May.

Disney (DIS) shares fell before the opening bell after reporting first-quarter earnings that were slightly weaker than analysts were expecting on Wednesday night. Media and entertainment conglomerate for Disney+ helped offset lower-than-expected subscriber numbers. The comes amid an ongoing battle with Florida Gov. Disney to execute a sweeping restructuring plan. Ron DeSantis.

Elsewhere, shares of Robinhood (HOOD) rose nearly 4% ahead of earnings as the company reported better-than-expected first-quarter revenue after the closing bell on Wednesday. The financial services platform also announced that it will launch -hour trading services for certain securities.

Several companies reported earnings before the opening bell on Thursday, including Sonos (SONO). The technology device maker that makes consumer products such as Bluetooth speakers cut its full-year guidance for revenue and adjusted EBITDA amid “softening consumer demand,” according to Sonos CEO Patrick Spence. Shares fell nearly 25% in pre-market trading.

Bob Iger, executive chairman of The Walt Disney Company, arrives at the world premiere of the film ‘The King's Man' at Leicester Square on December 6, 2021 in London, Britain. REUTERS/Hannah McKay

Producer price growth for April was cooler than economists expected on Thursday morning. Prices rose 0.2% on a monthly basis and 2.3% on an annual basis. Economists expected producer prices to rise 0.3% on a monthly basis in April and 2.5% on an annual basis, per Bloomberg consensus data. In March, producer prices fell 0.5% on a monthly basis, but rose 2.7% on an annual basis.

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The print came after Wednesday's Consumer Price Index report showed prices rose at their slowest annual pace in two years in April, according to latest data From the Bureau of Labor Statistics. After pricing in about a 78% chance of a pause before the CPI release, markets are now pricing in a 95% chance of a rate-hike pause in June, According to the CME Fed Watch tool.

“This report should keep the Fed comfortable in June,” a team of Bank of America economists wrote in a note Wednesday. “Note, however, that we have another jobs report and another inflation print before the June meeting.”

On the labor front, initial jobless claims for the week ending May 6 exceeded expectations with 246,000 claims. Expectations were 245,000, according to consensus data from Bloomberg.

Josh is a reporter for Yahoo Finance.

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