U.S. Stock Futures Rise as Inflation Matches Forecasts, Boosting Rate-Cut Hopes
U.S. stock index futures advanced on Friday due to favorable inflation data, strengthening speculations about upcoming Federal Reserve interest rate cuts. The Personal Consumption Expenditures index reported a 2.7% annual rise in August, aligning with predictions and spurring activity in Dow, S&P 500, and Nasdaq 100 E-minis.
On Friday, U.S. stock index futures saw extended gains following an inflation report that met expectations, bolstering hopes for Federal Reserve interest rate cuts later this year. The latest data showed the Personal Consumption Expenditures index rose by 2.7% in August compared to a year ago, matching economist estimates according to a Reuters survey.
When excluding the more volatile categories of food and energy, the core Personal Consumption Expenditures index grew by 2.9%, again meeting the predictions set forth by analysts. These figures were pivotal in stirring positive movements in the financial markets.
By 08:32 a.m. ET, key stock indexes displayed upward trends: Dow E-minis increased by 201 points, or 0.43%, S&P 500 E-minis rose by 20.75 points, or 0.31%, and Nasdaq 100 E-minis climbed by 69 points, or 0.28%.
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