Wall Street futures are inclined towards a lower trajectory in the pre-bell hours this Friday, as traders prepare for the upcoming release of personal consumption expenditures data for November, the Federal Reserve's preferred gauge for underlying inflation. The eagerly awaited November data on Personal Income and Outlays in the United States will be published at 8:30 am ET.
Analysts project a 0.4% rise in personal income for the month, accompanied by a 0.5% increase in outlays. In futures trading, the S&P 500 saw a decline of 0.8%, the Nasdaq dropped by 1.3%, and the Dow Jones fell 0.5%. Asian exchanges concluded the trading session negatively, and most European stock exchanges also recorded downturns by midday. Among early movers, Nike reported a premarket drop of 3.5% following a reduction in earnings and revenue for fiscal Q2. Carnival and Winnebago Industries are set to unveil their quarterly earnings reports later in the day. Additionally, the consumer sentiment report is scheduled for release at 10 am ET, followed by the Baker Hughes rig count at 1 pm. In the premarket phase, Bitcoin was trading at $94,318.75, West Texas Intermediate crude oil was priced at $68.62, and 10-year US Treasuries yielded 4.55%.
Spot gold was trading for $2,605.21 an ounce..