Here are five things you must know for Friday, April 9:
1. -- Stock Futures Fluctuate Amid Renewed Inflation Worries
Stock futures fluctuated Friday as data from China renewed concerns over inflation despite assurances from Federal Reserve Chairman Jerome Powell that the central bank had the tools to curb higher prices.
Contracts linked to the Dow Jones Industrial Average rose 77 points, S&P 500 futures were up 5 points and futures on the tech-heavy Nasdaq slipped 7 points.
The yield on the 10-year U.S. Treasury note rose Friday to 1.662%.
Data from China showed producer prices rising at the fastest pace in more than four years, while consumer prices moved higher as fuel costs jumped.
U.S. producer-price data will be released Friday and investors will be monitoring the report for signs of inflation at the wholesale level.
The S&P 500 closed Thursday at a record for a second day after Powell said he expected any inflation resulting from an economic recovery to be temporary, but if prices move "persistently and materially above levels we’re comfortable with" the central bank has the tools to curb them.
The S&P 500 closed up 0.42% to 4,097.
2. -- 'No' Votes Lead in Union Drive at Amazon Warehouse
Votes against unionization at an Amazon.com (AMZN) - Get Report warehouse in Alabama had a more than 2-to-1 advantage over those in favor, according to a live broadcast of the counting that was tallied by The New York Times.
When the counting paused by federal officials at 7 p.m. ET, there were 1,100 votes against unionization and 463 in support.
The count is expected to resume early Friday. The union said there were 3,215 ballots cast, roughly 55% of the 5,805 eligible voters at the warehouse in Bessemer, Ala.
Behind in the voting, the Retail, Wholesale and Department Store Union criticized the election, saying that Amazon "took full advantage" of a broken system and "we will be calling on the labor board to hold Amazon accountable for its illegal and egregious behavior during the campaign."
3. -- Impossible Foods Reportedly Planning to Go Public
Impossible Foods, the plant-based meat maker, is preparing for a public listing that could value the company at around $10 billion or more, Reuters reported, citing people familiar with the matter.
The company was valued at about $4 billion in a private funding round in 2020.
Impossible Foods is exploring going public through an initial public offering in the next 12 months or a merger with a special purpose acquisition company, the sources told Reuters.
Citing a report by the Good Food Institute and the Plant-Based Foods Association, Reuters said U.S. plant-based retail sales hit $7 billion, up 27% year on year.
4. -- Nike Settles With Maker of 'Satan Shoes'
MSCHF will start a voluntary recall of the Satan Shoes and the previously released "Jesus Shoes," which also were based on Nike sneakers. The shoes cost $1,018 a pair.
“Nike had nothing to do with the Satan Shoes or the Jesus Shoes,” Nike said in a statement. “If any purchasers were confused, or if they otherwise want to return their shoes, they may do so for a full refund. Purchasers who choose not to return their shoes and later encounter a product issue, defect or health concern should contact MSCHF, not Nike.”
The shoes were created in collaboration with singer Lil Nas X. The were inspired by Lil Nas' demonic-themed “Call Me By Your Name” music video.
5. -- Levi Strauss Lifts Dividend and Boosts Guidance
Levi Strauss (LEVI) - Get Report raised its dividend and guidance for the first half of the year, citing the continued rollout of COVID-19 vaccines.
The maker of iconic jeans and other clothing said it expected sales growth of 24% to 25% in the first half of 2021. It also lifted its first-half adjusted earnings estimate to between 41 cents and 42 cents a share, saying the forecast assumes "no significant worsening of the COVID-19 pandemic or dramatic incremental closure of global economies."
The company increased its quarterly dividend to 6 cents a share from 4 cents.
Levi Strauss reported fiscal first-quarter earnings and sales that topped analysts' expectations.
The stock rose 0.92% to $25.25 in premarket trading Friday.