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Futures Flat Following Resilient Economic Outlook

U.S. equity futures remained flat on Friday morning after rallying the previous day. This comes after the Federal Reserve decided to pause its interest rate hiking agenda following signs of cooling inflation and positive economic data.

Futures on the Dow Jones Industrial Average fell by 15 points, less than 0.1%, with those on the S&P 500 exhibiting a similar decline. Contracts listed on the tech-heavy Nasdaq Composite Index gained a little less than 0.1%.

This cooldown follows Thursday’s rally, which came after retail sales data in May proved to be stronger than expected. The data, from the Commerce Department, showed that retail sales rose 0.3% compared to the previous month.

Global stocks rose as a whole, with the MSCI All-World index advancing by about 0.2% on Friday, thereby reaching its highest level since mid-April 2022. Japan’s Nikkei 225 proved to be a standout performer, rising for the 10th straight week to record its longest winning streak since February 2013.

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