U.S. stock index futures on Friday were steady ahead of data on producer price inflation, after data on rising consumer prices on Thursday caused some choppy trading conditions but did little to change the market’s drift lower this week.
What’s happening
Dow Jones Industrial Average futures
YM00,
+0.01%
rose 7 points, or 0%, to 35258.
S&P 500 futures
ES00,
-0.07%
dropped 4 points, or 0.1%, to 4482.
Nasdaq 100 futures
NQ00,
-0.18%
decreased 29 points, or 0.2%, to 15173.
On Thursday, the Dow Jones Industrial Average
DJIA
rose 53 points, or 0.15%, to 35176, the S&P 500
SPX
increased 1 points, or 0.03%, to 4469, and the Nasdaq Composite
COMP
gained 16 points, or 0.12%, to 13738.
What’s driving markets
Stocks initially rallied Thursday after data showed consumer prices, and core costs, rising 0.2% on a monthly basis in July, matching estimates, but equities flattened out as San Francisco Fed President Mary Daly said there was more work to be done to lower inflation and after an auction of 30-year bonds
BX:TMUBMUSD30Y
wasn’t as strong as the 3- and 10-year note auctions of the previous two days.
“The current rate of disinflation seems congruent with the scenario of a September pause from the FOMC, though markets will probably remain a little anxious knowing that the August CPI print is still to come between now and the next policy meeting,” said Tim Waterer, chief market analyst at KCM Trade.
There’s more U.S. inflation data on tap on Friday, when the producer price index for July is released, as well as the University of Michigan’s consumer sentiment gauge, which includes consumer inflation expectations.
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