Market Coverage: Friday May 14th Yahoo Finance

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Stock futures headed for a back-to-back session of gains on Friday, but still paced toward posting weekly declines after steep drops earlier this week.

Contracts on the Dow gained after the index posted its best single-session gain since March on Thursday. Contracts on the S&P 500 and Nasdaq were also higher after advancing strongly a day earlier.

Shares of Disney (DIS) slid after the company posted quarterly revenue that missed estimates, with subscribers to Disney+ falling short of Wall Street's expectations and the firm's theme parks division losing money for a fourth straight quarter. Coinbase (COIN) shares rose after the crypto exchange boosted its full-year outlook, and as cryptocurrencies including Bitcoin and Ethereum recovered losses from earlier this week. Home rental company Airbnb (ABNB) topped first-quarter sales estimates but posted a wider-than-expected quarterly loss, sending shares slightly lower in early trading.

Investors this week have been nervously eyeing signs of inflation in the economic recovery coming out of the pandemic. Both consumer and producer prices surged in April over last year, reflecting both an inevitable bounce off last year's virus-depressed levels as well as upward price pressures as demand across supply chains outstripped supply. Consumer prices surged by a faster than expected 4.2% year-over-year last month, government data showed earlier this week. And producer prices also came in higher than expected, with core producer prices rising 4.1% last month versus the 3.8% increase expected.

However, signs that fewer workers were leaving the job market at least temporarily helped assuage market participants' fears over labor supply shortages on Thursday. New weekly jobless claims fell to a pandemic-era low last week, dipping below 500,000 for the first time since March 2020.

A new print on retail sales from the Commerce Department on Friday gave the latest update on consumer demand. Retail sales were flat month-on-month in April, down from the revised 10.7% increase reported during the prior month, with some pay-back occurring after stimulus checks boosted March's spending.

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