HomeFinancial MarketsU.S. Futures Rise as Inflation Shows Further Signs of Cooling

U.S. Futures Rise as Inflation Shows Further Signs of Cooling

Futures listed on the New York Stock Exchange rose on Friday as inflation showed further signs of cooling and Amazon released a positive earnings report. Nasdaq 100 futures gained 0.8% reversing some of Thursday’s losses, while S&P 500 advanced by 0.4%. Futures listed on the Dow Jones Industrial Average remained relatively flat.

The Personal Consumption Expenditures (PCE) Index—the Federal Reserve’s preferred inflation gauge—rose 3.4% on a year-over-year basis in September. The index rose 3.5% the previous month. “Core” PCE rose 3.7%; retreating from a 3.9% rise the previous month. On a monthly basis, Core PCE rose 0.3%, a 0.1% rise from August, which showed the slowest rate since November 2020.

Amazon reported strong quarterly fiscal earnings late Thursday, sending the company’s stock 6% higher. Amazon’s net sales were $143.08 billion, beating estimates of $141.56 billion. Earnings per share of $0.94 outperformed expectations of $0.58 per share.

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