US stock futures made gains Friday morning as investors looked ahead to a crucial inflation report that could shape expectations for the Federal Reserve’s next policy moves.
Dow Jones Industrial Average futures (YM=F) inched up 0.1%. Contracts on the S&P 500 (ES=F) made 0.2% gains while Nasdaq 100 futures (NQ=F) rose 0.4%.
All eyes on Friday turn to September’s inflation data. Expectations are that prices still run hot, with the Consumer Price Index (CPI) showing inflation likely hovering near a 3% annual rate. The CPI report, due Friday at 8:30 a.m. ET, was delayed by the ongoing government shutdown, now stretching into the second-longest run in US history.
It’s also the first major economic release since the shutdown began, giving investors a long-awaited pulse check on the economy, with the potential to reshape coming bets on interest rate cuts from the Fed.
Stocks remain on track for weekly gains, with the S&P 500 up about 1.1% for the week, while both the Nasdaq and Dow are pacing for roughly 1.2% advances.
After Thursday’s closing bell, Intel (INTC) shares jumped nearly 7% in extended trading after the chip giant reported third-quarter revenue that topped Wall Street estimates, fueling optimism in the semiconductor space.
“We believe we’re well-positioned to play a more significant role in AI,” Intel’s head of investor relations John Pitzer said in an interview with Yahoo Finance.
Target (TGT) shares also ticked up after the retailer announced plans to cut about 8% of its corporate workforce, its first major layoff in a decade.
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