A critical inflation statistic that the Federal Reserve will be closely monitoring caused stock futures to rise on Friday.
While Nasdaq 100 futures gained 0.7%, S&P 500 futures saw a minor increase of 0.4%. The Dow Jones Industrial Average futures saw a 0.2% increase, or 84 points.
The personal consumption expenditures price index is expected to provide fresh momentum for markets on Friday at 8:30 a.m. ET. July headline prices are expected to rise by 0.2% month over month or 2.5% annually.
A growth of 0.2% from the previous month or 2.7% from a year ago is anticipated for the core reading.
Source (CNBC)
