Wall St Set to Extend Recovery at the End of Volatile Week

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May 14 Reuters Wall Streets main indexes were set to open higher at the end of a volatile week marred by worries about rising inflation and a subsequent tightening of monetary policy.

Futures briefly pared gains after data showed U.S. retail sales unexpectedly stalled in April, as the boost from stimulus checks faded. Industrial production and consumer sentiment data will also be released later in the day.

The Dow and the SP 500 are set for their steepest weekly drop since January after strongerthanexpected inflation data, signs of labor shortage and higher commodity prices this week raised bets the Federal Reserve would have to pare back its crisis level support.

The three main U.S. stock indexes snapped a threeday losing streak on Thursday after betterthanexpected weekly jobless claims data.

The belief is that inflation will become more persistent, and it leaves the Fed behind the curve, said Rob Sechan, cofounder of NewEdge Wealth in New York.

As we get more broadbased in terms of the reopening, there is going to be more consensus around what is todays uncertainties, and market reaction will become more predictable and less volatile.

In signs that life was returning to normal, revised guidance from the U.S. Centers for Disease Control and Prevention said fully vaccinated people do not need to wear masks outdoors and can avoid wearing them indoors in most places.

At 842 a.m. ET, Dow eminis were up 101 points, or 0.3, SP 500 eminis were up 20.25 points, or 0.49…

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