US stock futures increased on Friday as investors braced for important economic data following a three-day winning streak for both the Dow Jones and S&P 500. Dow Jones and S&P 500 rose by 0.2% and 0.3%.
YahooFinance- US Stock Futures increased on Friday as investors prepared for the release of important economic data following a three-day winning streak for both the Dow Jones and S&P 500.
The Futures of the Dow Jones Industrial Average Increased (YM=F) By 0.2%. The Futures of S&P 500 (YM=F) increased by 0.3%. The Futures of the NASDAQ 100 rose by 0.4%.
Oil has been in the spotlight since Brent Crude (BZ=F) and West Texas Intermediate (CL=F) continue to head higher on Thursday, as tensions between the United States and Iran rise.
President Trump plans to announce military action against Iran within ten days as discussions about Iran’s nuclear program continue.
Friday morning will bring a fresh reading of the Personal Consumption Expenditures (PCE) index, with analysts having estimated that overall PCE will increase by 2.8% compared to the previous year’s level and core PCE (which excludes food and energy, the Federal Reserve’s preferred measure of inflation) increasing by 3%.
The first reading of the fourth quarter’s U.S. gross domestic product (GDP) will also be available to investors.
With reference to the future rate cuts, Fed officials are divided on the outlook for interest rate cuts, as the future path remains uncertain. Although inflation has come down considerably since its height, it remains well above the Fed’s target of 2%.
Read: Asia Stocks Fall as Rate Uncertainty and Iran Tensions Escalate
According to the minutes from the Fed’s January meeting, there are some policymakers who would like more definite evidence that price pressures have eased before agreeing to more cuts in interest rates, and others who are more focused on sustaining labour market strength.
Earnings season has started, and the major companies have already reported this week. The companies like Nvidia (NVDA) and Dell (DELL) will be reporting the next week, which may indicate the extent of AI-sell-off, which as per some analysts is overblown.
In addition, the S&P 500 (^GSPC) has gained 0.4% this week, while the Nasdaq (^IXIC) is up 0.6%, attempting to stop a five-week losing trend, and the Dow (^DJI) is down by approximately 0.2% so far this week.
