US market futures rose higher on Friday, signalling to another record-setting session, but a revision of 2023 inflation data might spoil the party.
S&P 500 (^GSPC) futures climbed 0.2% on Thursday’s record closing, bringing the benchmark within three points of surpassing 5,000 for the first time. The Dow Jones Industrial Average (^DJI) futures remained above the flatline, but the tech-heavy Nasdaq 100 (^NDX) contracts led the way higher, up 0.3%.
A steady stream of well-received quarterly profits has boosted equities in a week devoid of economic updates, which have been driving market moves due to their relevance to the Federal Reserve’s policy thinking.
Given this, investors will pay special attention to Friday’s revisions to the 2023 consumer price index, since seasonal adjustments wiped previously reported advances a year earlier. Fed officials have stated that they are taking the time to ensure that pricing pressures are truly easing before implementing any interest rate decreases.
PepsiCo (PEP) profits will take the stage on Friday as the pace of corporate earnings begins to slow. Shares fell almost 2% in premarket trade as the beverage and snack company’s sales fell short of Wall Street expectations despite price increases.