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U.S. stock futures on Friday were stuck ahead of data on producer prices, after consumer price statistics did little to move the markets in either direction.
What’s happening
-
Dow Jones Industrial Average futures
YM00
rose 7 points, or 0%, to 35258. -
S&P 500 futures
ES00
dropped 4 points, or 0.1%, to 4482. -
Nasdaq 100 futures
NQ00
decreased 29 points, or 0.2%, to 15173.
On Thursday, the Dow Jones Industrial Average
rose 53 points, or 0.15%, to 35176, the S&P 500
increased 1 points, or 0.03%, to 4469, and the Nasdaq Composite
gained 16 points, or 0.12%, to 13738.
What’s driving markets
Stocks initially rallied Thursday after data showing 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 and as an auction of 30-year notes
wasn’t as strong as the 3- and 10-year 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 inflation data on tap on Friday, when producer prices for July are released, as well as the University of Michigan consumer sentiment gauge, which includes consumer inflation expectation.
