Traders on the floor of the NYSE, June 8, 2022.
Source: NYSE
Stock futures rose slightly on Thursday night ahead of the highly anticipated inflation report.
Futures tied to the Dow Jones Industrial Average added 68 points, or 0.2%. The S&P 500 and Nasdaq 100 indexes both gained about 0.2%.
Before the opening bell on Friday, investors will be watching Consumer price index report in May. Economists surveyed by Dow Jones are expecting year-over-year gains of 8.3% for the main index and 5.9% for the core index, which excludes food and energy prices.
If the report matches expectations or shows slower gains, Wall Street could take it as a sign that inflation may have peaked and that the Federal Reserve may need to be less aggressive in the coming weeks. Last year.
Future moves come later Stocks fell sharply in the regular trading session on Thursday, with the S&P 500 and Nasdaq Composite both falling more than 2%. The Dow closed down more than 600 points, losing about 400 points in a tough final hour of trading on Wall Street.
For the week so far, the Dow is down 1.9%, tracking its 10th weekly loss in history. The S&P 500 and Nasdaq Composite are both down more than 2%, tracking their ninth weekly loss in 10.
“I think there is still a fairly high level of pessimism that underpins the market and the move back is really the market trying to figure out where to go next and waiting,” said Yung-Yu Ma. wait for the news,” says chief investment strategist at BMO Wealth Management.
Later on Friday, the preliminary consumer sentiment report for June will be released after the stock market opens.
