US stock index futures edged slightly higher on Friday as market participants awaited the release of key inflation data, expected to offer fresh insight into the Federal Reserve’s forthcoming policy direction.
As of 04:52 P.M. (GMT+7), futures linked to the Dow Jones Industrial Average rose by 0.14%, or 63.40 points, to 46,798.00 points while S&P 500 futures advanced 0.34%, or 22.70 points, to 6,761.10 points. Nasdaq 100 futures outperformed, ticking up 0.53%, or 134.20 points, to 25,231.60 points.
Attention is focused on September’s Consumer Price Index, with economists projecting inflation to remain elevated at an annual rate near 3%. The much-anticipated CPI figures are scheduled for release at 07:30 P.M. (GMT+7) Friday, following delays caused by the ongoing federal government shutdown—now the second-longest in US history.
This CPI release marks the first significant economic data published since the shutdown began, offering investors valuable perspective on economic momentum and influencing expectations regarding potential interest rate reductions from the Federal Reserve.
Despite uncertainties, major averages are poised for weekly gains. The S&P 500 is up around 1.1% since Monday, with both the Dow and Nasdaq looking to close the week approximately 1.2% higher.
In premarket action, Intel shares rallied 8% after the semiconductor maker reported third-quarter revenues that surpassed analysts’ expectations, boosting sentiment across the sector.
Retailer Target saw its shares inch higher after revealing it would reduce about 8% of its corporate staff, marking its most significant workforce reduction in a decade.
