US equity futures exhibited positive momentum on Friday as investors evaluated the latest earnings report from Broadcom and scrutinized producer price data for the previous month. The Standard & Poor's 500 rose by 0.3%, the Dow Jones Industrial Average appreciated by 0.3%, and the Nasdaq saw an uptick of 0.7% in premarket trading.
Meanwhile, most Asian exchanges faced declines, while a majority of European markets demonstrated upward trends during midday trading across the continent. On Thursday, government statistics indicated that the US producer price index saw an increase of 0.4% in November, surpassing the 0.2% consensus estimate derived from Bloomberg polls.
Earlier in the week, reports from the Bureau of Labor Statistics revealed that consumer inflation had accelerated in accordance with market forecasts for the previous month, both on a sequential and annual basis. Looking ahead in Friday's economic calendar, the import and export price report for November is scheduled for release at 8:30 am ET, followed by the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm. Broadcom's shares surged by 15% ahead of market open as the semiconductor company disclosed fiscal fourth-quarter earnings that exceeded expectations.
In the same vein, RH experienced a 17% increase driven by the positive quarterly outcomes of the home furnishing retailer. Conversely, Costco Wholesale saw a slight dip of 0.2% after reporting mixed results for its fiscal first quarter. Before the trading day commenced, bitcoin saw a modest rise of 0.4%, trading at $100,355.
West Texas Intermediate crude oil climbed 0.9% to reach $70.68 per barrel. Meanwhile, yields on 10-year Treasuries increased by 2 basis points to 4.34%, and gold prices declined by 0.8% to $2,687 per ounce..