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.