{"id":29522,"date":"2023-06-30T05:11:47","date_gmt":"2023-06-30T09:11:47","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/nasdaq-futures-extend-gains-ahead-of-inflation-data\/"},"modified":"2023-06-30T05:11:49","modified_gmt":"2023-06-30T09:11:49","slug":"nasdaq-futures-extend-gains-ahead-of-inflation-data","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=29522","title":{"rendered":"Nasdaq futures extend gains ahead of inflation data"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002234040\" role=\"document\">\n<p>U.S. stock futures were mostly higher Friday as traders awaited PCE inflation data that may color the Federal Reserve\u2019s thinking on interest rates.<\/p>\n<h2>How are stock-index futures trading<\/h2>\n<ul class=\"articleList\">\n<li>\n      S&amp;P 500 futures<br \/>\n        ES00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209948968\/delayed\" class=\"positive\">+0.24%<\/bg-quote><br \/>\n       rose 5 points, or 0.1%, to 4441<\/p>\n<\/li>\n<li>\n      Dow Jones Industrial Average futures<br \/>\n        YM00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210407078\/delayed\" class=\"positive\">+0.10%<\/bg-quote><br \/>\n       fell 6 points, or 0%, to 34346<\/p>\n<\/li>\n<li>\n      Nasdaq 100 futures<br \/>\n        NQ00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210219788\/delayed\" class=\"positive\">+0.44%<\/bg-quote><br \/>\n       added 50 points, or 0.7%, to 15150<\/p>\n<\/li>\n<\/ul>\n<p>On Thursday, the Dow Jones Industrial Average<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"positive\">+0.80%<\/bg-quote><br \/>\n       rose 270 points, or 0.8%, to 34122, the S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+0.45%<\/bg-quote><br \/>\n       increased 20 points, or 0.45%, to 4396, and the Nasdaq Composite<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"negative\">-0.00%<\/bg-quote><br \/>\n       dropped 0 points, or 0%, to 13591.<\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>The final trading day of the week, month and quarter is presenting a mildly positive picture as investors await important inflation data.<\/p>\n<p>The U.S. personal consumption expenditure report for May will be published at 8:30 a.m. Eastern, with economists forecasting annual core growth of 4.6%, down from 4.7% in April.<\/p>\n<p>The PCE is among the Federal Reserve\u2019s favored inflation gauges and so investors will want to see confirmation that price pressures continue to ease, allowing the central bank to soon stop its monetary tightening campaign.<\/p>\n<p>However, recent data suggests the U.S. economy is humming along quite nicely and the Fed may need to persevere in its hawkish stance, analysts noted.<\/p>\n<p>\u201c[W]ith 10 year U.S. yields shooting higher on the back of a sharp drop in weekly jobless claims and an upward revision to 1Q23 GDP growth \u2014 stock pickers may still be concerned that the data points to a stronger economy than the Fed wants and likely puts more at stake on [the] PCE inflation report,\u201d said Stephen Innes, managing partner at SPI Asset Management.<\/p>\n<p> Still, for now investors seem confident that the market can absorb the prospects of bond yields staying higher for longer. The last time 10-year Treasuries<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">3.883%<\/bg-quote><br \/>\n       yielded around the current levels of 3.85%, the S&amp;P 500 was more than 10% lower amid fallout from the regional banking crisis.<\/p>\n<p>And the rise in rates has not prevented the tech-heavy Nasdaq Composite from extending its gains to 30% for the year, in line for its best first half since 1983.<\/p>\n<p>Nike<br \/>\n        NKE,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203439053\/composite\" class=\"positive\">+0.30%<\/bg-quote><br \/>\n       may be a drag after the sports fashion retailer, a component of the Dow industrials, delivered poorly-received results after the market closed Thursday, leaving its stock off 4% in premarket action.<\/p>\n<p>Other U.S. economic updates set for release on Friday include personal income and spending for May, at 8:30 a.m., the Chicago Business Barometer for June at 9:45 a.m. and the final reading of June consumer sentiment at 10 a.m.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/nasdaq-futures-extend-gains-ahead-of-inflation-data-813be470?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock futures were mostly higher Friday as traders awaited PCE inflation data that may color the Federal Reserve\u2019s thinking on interest rates. How are stock-index futures trading S&amp;P 500 futures ES00, +0.24% rose 5 points, or 0.1%, to 4441 Dow Jones Industrial Average futures YM00, +0.10% fell 6 points, or 0%, to 34346 Nasdaq [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":29523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-29522","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nasdaq futures extend gains ahead of inflation data | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stock futures were mostly higher Friday as traders awaited PCE inflation data that may color the Federal Reserve\u2019s thinking on interest rates.How are\" 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