U.S. stock index futures on Friday were pointing to a positive session ahead of the end to another difficult quarter, with August inflation data and speeches by Federal Reserve policy makers due also.
- Futures on the Dow Jones Industrial Average
rose193 points, or 0.6%, to 29479.
- Futures on the S&P 500
gained 29 points, or 0.8%, to 3684.
- Futures on the Nasdaq 100
increased 82 points, or 0.7%, to 11310.
On Thursday, the Dow Jones Industrial Average
fell 458 points, or 1.54%, to 29226, the S&P 500 declined 79 points, or 2.11%, to 3640, and the Nasdaq Composite
dropped 314 points, or 2.84%, to 10738.
So far, the S&P 500 has slumped 3.8% in the third quarter and lost 24% over the last three quarters.
What’s driving markets
Shares of Nike
tumbled 9% in premarket trade after executives at the sportswear maker said price cuts to clear stockpiles from warehouses in North America would dent gross margins for the rest of the fiscal year.
The personal consumption expenditure price index, the inflation indicator that the Fed uses as a guide is due for release at 8.30 a.m. ET, along with consumer spending and personal income numbers. Shortly after the stock market open, the Chicago PMI and the University of Michigan consumer sentiment reading will also be released.
Another wave of Fed speakers hits the tape on Friday, with Vice Chair Lael Brainard making her first comments of the week at 9 a.m. Eastern.
Meanwhile, the yield on the 10-year Treasury BX:TMUBMUSD10Y declined 8 points to 3.70%. The beleaguered British pound
rose above $1.11, helped by Wednesday’s decision to buy long-dated gilts, as well as a decision by the U.K. government to meet with the country’s independent budget forecasters.