Stock Futures Rise Amid Economic Data Insights
U.S. stock index futures saw slight gains as investors analyzed inflation and economic growth data. The Personal Consumption Expenditure index, a key inflation measure, matched expectations with a 0.3% rise in January. However, GDP growth was slower than anticipated at 0.7%, impacting market movements.
U.S. stock index futures extended their upward trajectory on Friday morning as investors closely reviewed fresh data on inflation and economic growth, seeking insights for the Federal Reserve's policy decisions.
The Personal Consumption Expenditure (PCE) index, favored by the Federal Reserve as a benchmark for inflation, recorded a monthly increase of 0.3% in January, consistent with economists' expectations. Over a year, the PCE rose by 2.8%, slightly below the anticipated 2.9% rise.
Meanwhile, the Commerce Department's revised projection indicated that the gross domestic product (GDP) grew by 0.7% in the previous quarter, falling short of the 1.4% growth predicted by analysts surveyed by Reuters. At 8:31 a.m. ET, major U.S. stock futures were up, with Dow E-minis rising by 201 points or 0.43%, Nasdaq 100 E-minis increasing by 102.25 points or 0.42%, and S&P 500 E-minis advancing by 29.75 points or 0.44%.
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