U.S. stock futures hovered around the flatline on Thursday after the benchmark S&P 500 and tech-heavy Nasdaq Composite both posted record high closing levels in the prior session.
In an unexpected move earlier this week, Nvidia unveiled plans for its new"Rubin" chip only months after it announced its most recent launch. The company, which faces intensifying competition from chipmaking rivals like Advanced Micro Devices (NASDAQ:Nvidia also reported another quarter of bumper earnings in May, including a 262% spike in revenue, and revealed a 10-for-one stock split that is set take effect on June 7.
Strength in mainland China, where same-store sales increased by 26% versus the year-ago period, offset flat top-line returns in the Americas. Analysts cited by Reuters noted that Lululemon has been building up its presence in China to take advantage of relatively muted domestic competition and counteract sluggish demand among inflation-squeezed U.S. shoppers.
ECB President Christine Lagarde said in May that she believes price pressures are"under control," particularly as the impact of an energy crisis and supply chain constraints fades. Philip Lane, the central bank's Chief Economist, also told the Financial Times in an interview that"barring major surprises" officials see enough in recent data"to remove the top level of restriction.
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