US heavyweight inflation data to be released soon, US stock index futures holding steady, New York copper futures hitting new highs, meme stock frenzy continues

On Wednesday, May 15th, before the release of the US April CPI data, the three major US stock index futures remained stable, European stocks showed mixed movements, and New York copper futures hit a historical high due to short squeezing. Following a rebound led by technology stocks on Wall Street, global stock markets moved towards record highs. The market optimistically believes that the key US inflation report on Wednesday will not weaken the reasons for the Fed to cut interest rates. Most believe that inflation will slow slightly, with the April CPI expected to rise by 0.4% month-on-month, in line with March; the year-on-year increase is expected to decrease slightly from 3.5% in March to 3.4%. Core CPI is expected to rise by 0.3% month-on-month, lower than 0.4% in March; the year-on-year increase is expected to fall from 3.8% to 3.6%. Before the release of the US April CPI, despite Powell's signal of longer-term rate hikes and mixed PPI inflation data, the S&P 500 index continued to rise. US Stock Index Futures Remain Stable, Chinese EV Startups Rise US stock index futures were mostly stable in pre-market trading, with Dow futures up 0.03%, S&P 500 futures up 0.01%, and Nasdaq 100 futures down 0.06%. Chinese electric vehicle (EV) startups rose, with Nio up nearly 3%, Li Auto up nearly 1%, and XPeng up 0.48%. In terms of news, Nio's second brand, "Lede," will be unveiled tonight at 19:30, and its first model, Lede L60, will debut and open for pre-orders simultaneously. Meme stocks continued to surge, with GameStop Corp. and AMC Entertainment Holdings rising for the third consecutive trading day. Mixed Movements in European Stocks, Consumer Sector Declines European stocks showed mixed movements, with the UK's FTSE 100 index fluctuating by 0.32%, Germany's DAX index rising by 0.41%, France's CAC 40 index falling by 0.18%, and the Euro Stoxx 50 index declining by 0.04% On the individual stock side, Burberry fell after reporting a sales decline, dragging down the consumer goods sector. ING Bank fell by over 5% after announcing unchanged performance guidance, while Finnish oil refiner Neste Oyj plummeted due to a downward revision in the sales profit margin of its renewable products. The Eurozone economy started the year stronger than expected, growing by 0.3% in the first quarter, following a mild recession in the second half of 2023. The European Commission stated that with next year's economic growth rebound, the pace of inflation decline may be faster than previously anticipated. Unlike the possible interest rate hike path in the United States, French central bank governor François indicated that the European Central Bank is likely to start cutting interest rates at the next policy meeting in June. New York Copper Futures Hit Record High, Gold Continues to Rise New York copper futures rose to a historic high after short covering, with the most liquid contract trading at a significant premium. Comex July delivery futures briefly rose to $5.1101 per pound, surpassing the previous high of $5.0395 set in March 2022. Gold continued its upward momentum from the previous trading day.