On Friday, US equity futures displayed minimal movement as investors prepared for critical insights into US inflation and forthcoming economic indicators. The futures for the Dow Jones Industrial Average and S&P 500 showed little change, while Nasdaq futures experienced a slight dip of 0.06%. Meanwhile, oil prices experienced a modest uptick, with the North Sea Brent crude, a key global benchmark, rising by 0.3% to reach $71.30 per barrel.
US West Texas Intermediate crude also saw an increase of 0.4%, climbing to $67.96 per barrel. Investors are particularly focused on the Personal Consumption Expenditures (PCE) price index, set to be revealed at 8:30 am ET. Analysts anticipate it to reflect a growth of 0.2% in August, aligning with the increase recorded in July.
Additionally, the core PCE measure, favored by the Federal Reserve as a benchmark for inflation, is also expected to show a growth of 0.2% for the same month, mirroring the rise from the preceding month based on Bloomberg's compiled estimates. Another significant report on the horizon is the US trade in goods deficit, also scheduled for release at 8:30 am ET.
This figure is forecasted to narrow to $100.6 billion in August, down from the previously reported $102.66 billion. Moving to consumer sentiment, the final reading for September is due at 10 am ET, projected at a steady 69.0, consistent with the preliminary data. Investors closely monitor these economic indicators to gauge market conditions and adjust their strategies accordingly, underpinning the importance of inflation data in shaping monetary policy decisions and market outlooks..