On Friday, S&P 500 futures climbed as cooler inflation data emerged, indicating that stocks were poised for their eighth consecutive week of gains. The Dow Jones Industrial Average futures slightly declined by 0.2%, while S&P 500 futures increased by 0.2% and Nasdaq 100 futures showed a 0.3% rise.
Nike, a Dow component, experienced an 11% drop in premarket trading after revising its sales outlook downwards and revealing plans to reduce costs by approximately $2 billion over the next three years.
The Federal Reserve’s preferred inflation measure was lower than anticipated, reflecting a 3.2% annual increase in November. According to economists polled by Dow Jones, predictions included a 0.1% month-over-month increase and a 3.3% year-over-year rise.
These futures moves followed a recovery day on Wall Street, with the Dow climbing 322 points or roughly 0.9%, erasing most of its losses from Wednesday. The S&P 500 and Nasdaq Composite also climbed by 1.0% and 1.3% respectively.
Source (CNBC)
