U.S. stock futures were mostly higher as traders awaited PCE inflation data that may color the Federal Reserve's thinking on interest rates.
U.S. stock futures were mostly higher Friday as traders awaited PCE inflation data that may color the Federal Reserve’s thinking on interest rates.
How are stock-index futures trading On Thursday, the Dow Jones Industrial Average DJIA rose 270 points, or 0.8%, to 34122, the S&P 500 SPX increased 20 points, or 0.45%, to 4396, and the Nasdaq Composite COMP dropped 0 points, or 0%, to 13591. The PCE is among the Federal Reserve’s favored inflation gauges and so investors will want to see confirmation that price pressures continue to ease, allowing the central bank to soon stop its monetary tightening campaign.
Still, for now investors seem confident that the market can absorb the prospects of bond yields staying higher for longer. The last time 10-year Treasuries TMUBMUSD10Y yielded around the current levels of 3.85%, the S&P 500 was more than 10% lower amid fallout from the regional banking crisis.
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