US stock futures trended lower in Friday's premarket session as investors awaited key inflation data set for release later in the morning. The Dow Jones Industrial Average futures decreased by 0.62%, S&P 500 futures fell by 0.99%, and Nasdaq futures dropped by 1.54%. Oil prices also moved lower, with front-month global benchmarks Brent crude and West Texas Intermediate crude decreasing by 0.48% and 2.24%, respectively.
Monthly and annual core inflation figures are scheduled to be reported at 8:30 am ET by the Bureau of Economic Analysis. Forecasts suggest that inflation for November may decline to 0.2% from 0.3% in October, while the annual rate could increase to 2.9% from 2.8%. The Michigan Consumer Sentiment Index is set to be released during the morning as well.
Analysts expect the index to rise to 74 in December from 71.8 in November. Meanwhile, the consumer expectations component is projected to drop to 71.5 for December from 76.9 the previous month. In equity markets, shares of My Size soared 250% in Friday's premarket session, building on a 21% gain from Thursday.
Nvni Group's shares escalated by 107% after an astounding increase of 317% the previous day. Additionally, shares of Psyence Biomedica rose by 66%, continuing from a 61% uptick on Thursday. On the downside, Molecular Templates shares plummeted 55% after announcing late Thursday that trading of its stock would be suspended on December 26 from Nasdaq due to multiple compliance failures for continued listing.
Hyzon Motors' stock fell 42% following the announcement that it notified employees in Illinois and Michigan about impending layoffs, attributing the situation to difficulties in raising funding and uncertainties regarding government subsidies. Lastly, shares of Cyngn decreased by 40% following a 4.7% drop the previous day..