U.S. stock futures climbed early Friday, with S&P 500 (SPX) and Nasdaq 100 (NDX) futures hitting new intraday record highs after bouncing back from their April lows. Futures on the Nasdaq 100, the Dow Jones Industrial Average (DJIA), and the S&P 500 were up 0.43%, 0.23%, and 0.3%, respectively, at 4:47 a.m. EST, June 27. This comes ahead of key inflation data, as the market continues to push through concerns like tariffs, global tensions, and stubborn inflation.
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In Thursday’s trading, stocks posted strong gains, with the S&P 500 and Nasdaq 100 closing near record highs. The S&P 500 rose 0.80%, the Nasdaq 100 added 0.94%, and the Dow climbed about 0.9%. For the week so far, the Dow and S&P 500 are both up more than 2%, while the Nasdaq has jumped over 3%.
In after-hours trading, Nike (NKE) shares rose over 2% after the company reported fiscal fourth-quarter results that topped Wall Street expectations. Among the Magnificent Seven stocks, Meta (META), Amazon (AMZN), and Alphabet (GOOGL) led the gains, rising 2.46%, 2.42%, and 1.68%, respectively.
On the economic front, investors are looking ahead to Friday’s release of the May personal consumption expenditures (PCE) price index, a key measure of inflation. Economists expect it to rise 0.1% from April and 2.3% compared to a year ago. The core PCE, which leaves out food and energy prices, is also expected to go up 0.1% for the month and 2.6% year-over-year.
Along with the inflation data, traders will also be watching reports on personal income, consumer spending, and consumer confidence.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.27%. Simultaneously, WTI crude oil futures are trending higher, hovering near $65.63 per barrel as of the last check. At the same time, the Gold Spot U.S. Dollar Price declined to nearly $3,286 per ounce on Friday.
Elsewhere, European stocks opened higher today amid optimism about U.S. trade talks with China and other key partners.
Asia-Pacific Markets Traded Mixed Today
Asia-Pacific markets traded mixed on Friday as investors reacted to China’s industrial data for May. Industrial profits in the country dropped 9.1% year-over-year during the first five months of the year, according to the National Bureau of Statistics.
Hong Kong’s Hang Seng Index was down 0.17%. However, Japan’s Nikkei and Topix indices climbed 1.43% and 1.28%, respectively. At the same time, China’s Shanghai Composite and Shenzhen Component indices closed lower by 0.70% and 0.34%, respectively.
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