Today’s Stock: Stocks Today’s Stocks: Higher Stocks With Inflation Data PCE With Fed Inflation Data

Check back for updates throughout the trading day

U.S. stock futures rose in early Friday trade as Treasury yields and the dollar held steady as investors sought to end a challenging month on Wall Street by focusing on rate cuts in The Federal Reserve, which could extend the summer hike until the end of last year. the year.

Stocks ended mixed on Thursday, with the Dow adding more than 200 points on the session to close at a new record, supported in part by solid post-earnings gains for Salesforce. (mRCC) . The S&P 500 and Nasdaq were little changed as investors picked out details about Nvidia. (NVDA) the highly anticipated second quarter update and its implications for the broader AI investment thesis.

Markets were also supported by better-than-expected second-quarter GDP, which the Commerce Department said rose to 3 percent, thanks in part to a surprise increase in consumer spending and a modest decline in weekly jobless claims which could suggest some delays. – the resilience of the labor market cycle.

The focus for Friday’s session and ahead of the Labor Day holiday weekend will likely be the release of the Federal Reserve’s preferred inflation gauge, the PCE price index, before trading begins.

Market attention is likely to turn to the Fed and its near-term rate path, with inflation data on deck and a slew of jobs numbers due next week.

Scott Olson/Getty Images

Economists expect the report to show modest increases in both core and headline readings for July, but not to a level that would call into question the central bank’s signaling of short-term interest rate cuts.

CME Group’s FedWatch continues to point to about 100 basis points of Fed easing between now and the end of the year, with the odds of a huge 50 basis point cut in September pegged at 33%.

Heading into early Wall Street trading, S&P 500 futures, up 1.26% for the month and 2.41% for the quarter, point to an opening gain of about 22 points.

Meanwhile, Dow futures suggest a gain of 80 points from last night’s close, with the Nasdaq named 130 points higher.

Benchmark 10-year Treasury yields were little changed at 3.856 percent, with the 2-year note settled at 3.906 percent heading into early New York trading and PCE inflation data at 8:30 a.m. , eastern time.

Related: Housing market looks for Fed rate cut as sales fall and prices rise

Stocks on the move include Dell Technologies (della) which rose more than 5.8 percent to $117.15 each after the group said demand for AI-centric servers tied to Nvidia chips helped it top its quarterly earnings forecast and to improve its profit outlook for the full year.

Lululemon Athletica (LULU) also moved higher, rising 4.24% in premarket, despite the luxury apparel retailer cutting its full-year sales forecast amid growing competition and an anticipated drop in spending consumption.

In overseas markets, Europe’s Stoxx 600 extended its winning streak to a fourth straight week, while the regional benchmark hit a new all-time high in Frankfurt after data showed euro zone inflation dropped to its lowest level in three years, paving the way for more European hubs. Bank interest discounts.

More Wall Street analysts:

• Analysts reset price target on Grand Theft Auto maker’s stock
• Stock market analyst American Express signals the change in consumer behavior
• Analyst resets Nvidia stock price target ahead of earnings

Overnight in Asia, the Nikkei 225 ended the week 0.74 percent higher at 38,647.75 points, a move that led the benchmark index into positive territory for the month.

Meanwhile, MSCI’s regional benchmark ex-Japan index rose 0.6 percent in late trade, with broader Asian shares rising for a fourth straight month.

Related: Veteran fund manager sees world of pain coming for stocks