Stock futures rose during Friday’s morning session as investors braced themselves for the release of the latest round of PCE inflation data later in the day. This data is the Federal Reserve’s preferred measure of inflation.
Futures listed on the Nasdaq 100 led Friday’s gains, rising 0.8%, while those on the Dow Jones Industrial Average and the S&P 500 advanced 0.1% and 0.4% respectively.
Investors are expecting the upcoming PCE data to provide some insight into what moves the Federal Reserve is expected to make regarding its fiscal policy going forward. Currently, there is a rise in market bets that no more interest rate hikes are expected for the remainder of the year.
Aside from the incoming PCE data, investors are also paying attention to the latest moves by the Bank of Japan to loosen its control over market rates. Japan’s 10-year Treasury yields have been pushed above 4%.