Traders at work at the New York Stock Exchange on December 17, 2024.
new york stock exchange
U.S. stock futures rose slightly Thursday night as traders speculated on the latest reading of the Federal Reserve's favorite inflation measure.
futures It moved up 33 points (approximately 0.1%) in line with the Dow Jones Industrial Average. S&P500 futures and Nasdaq 100 Futures also rose 0.1% each.
In extended trading, fedex and nike Both soared after the latest quarterly results. The delivery giant rose about 8%, and the sports apparel retailer rose more than 7%.
During Thursday's trading session, Dow It was the only session to end in positive territory among the three major averages, posting a 15-point gain and ending a 10-day losing streak, the longest since 1974. This was the first session on the green since December 5th. The index fell more than 200 points.
Dow Jones Industrial Average slightly up, Dow Jones Industrial Average slightly down on Thursday S&P500 and Nasdaq Composite — came as 10 year government bond yield The stock price continued to rise sharply for the second day, keeping the stock under pressure.
Investors are now focused on the November value of the Personal Consumption Expenditure Price Index, the Federal Reserve's preferred measure of inflation. The report, scheduled to be released on Friday, takes on added significance after Fed Chair Jerome Powell indicated this week that PCE indicated 12-month inflation was likely to exceed the central bank's 2% target. may increase.
Analysts polled by Dow Jones expect the index to rise 0.2% from last month and 2.5% for the year. Core inflation, which excludes food and energy, is also expected to rise 0.2% from last month, or 2.9% annually.
“Whatever the reaction is, it's probably going to be tougher anyway than it was before the Fed actually raised those expectations,” said Mike Dixon, head of research and quantitative strategy at Horizon Investments. said. he told CNBC.
This comes after the Fed cut rates by a quarter of a point earlier this week, indicating it would likely cut rates only twice in 2025, fewer than previously expected. This sent the market into a tailspin on Wednesday, with all three indexes falling.
The recent turmoil has led to major stock averages on track for sharp weekly declines. The S&P 500 and Dow are down more than 3% week to date, and the Nasdaq is down more than 2% over the same period.
Other economic reports are also expected to be released on Friday, including the University of Michigan's Consumer Confidence Index.
– CNBC’s Sarah Min contributed to this report.
