HomeFinancial MarketsFutures Rise Following Release of Favorable PCE Data

Futures Rise Following Release of Favorable PCE Data

U.S. equity futures opened higher on Friday as markets await the release of what is expected to be a favorable Personal Consumption Expenditures (PCE) Index. Core PCE, which excludes volatile food and energy components, is expected to have risen by 3.9%, the slowest rise since September 2021. This shows that inflation is on its way to the Federal Reserve’s 2% target.

Futures on the S&P 500 and the Dow Jones Industrial Average gained about 0.5% each, while those on the tech-heavy Nasdaq 100 advanced by 0.7%, meaning that all three indexes built on their gains from Thursday. This upward momentum provides some relief at the end of a difficult month of trading. All three indexes are poised to decline from 3% to 5% for September.

Bonds also had some relief on Friday, with the yield on 10-year Treasuries retreating from a more than 15-year high. While the 30-year Treasury yield also declined, it remains on track for its largest rise since 2009.

GameStop Shares Surge More Than 35% Ahead of the Earnings Report

Shares of video game and electronics retailer GameStop are on the rise again. The company’s stock has been surging in recent days, gaining more...

Microsoft to Invest $3.2 Billion in UK in AI Push

Microsoft is planning to inject $3.2 billion over the next three years into the United Kingdom in an effort to foster artificial intelligence technology...

European and U.S. Stocks Rise Ahead of U.S. Inflation Data

European and U.S. stocks rose higher during Thursday's morning session as investors awaited U.S. inflation data due to be released later in the day....