FOX Business: Capitalism Lives Here
U.S. stock-index futures slumped Friday on traders mulled a set of data on wholesale inflation, and awaited several other key reports.
Continue Reading Below
As of 8:03 a.m. ET, Dow Jones Industrial Average futures fell 9 points to 15108, S&P 500 futures dipped 1.3 points to 1630 and Nasdaq 100 futures slumped 0.75 point to 2956.
It's been a turbulent week for Wall Street. The markets have swung sharply in both directions, but so far the bears have held a slight edge. As of Thursday's close, the broad S&P 500 was set to close the week out with a loss of 0.43%.
That could all change, however, after traders get several important reports on the U.S. economy.
The Labor Department provides a fresh look at inflation at the wholesale level at 8:30 a.m. ET. The Producer Price Index is forecast to have risen 0.1% in May from April. Another gauge of trade prices actually pointed to an unexpected drop over the same period. The Federal Reserve keeps a close eye on inflation amid concerns its ultra aggressive easing could stoke inflation. Thus far, economists say, that particular threat hasn't materialized.
Later, at 9:15 a.m. ET, the Federal Reserve releases its measure of factory activity. Industrial production is expected to have climbed 0.2% in May from the month prior. Then Reuters and the University of Michigan provide a snapshot of consumer sentiment for the month of June at 9:55 a.m. ET. Economists estimate sentiment to have held steady from May.
Commodities markets generally pointed higher. The benchmark U.S. crude oil contract climbed 47 points, or 0.48%, to $97.15 a barrel. Wholesale New York Harbor gasoline gained 0.37% to $2.872 a gallon. In metals, gold advanced $2.50, or 0.18%, to $1,380 a troy ounce.
The Euro Stoxx 50 rose 0.43% to 2673, the English FTSE 100 gained 0.15% to 6314 and the German DAX advanced 0.54% to 8139.
In Asia, the Japanese Nikkei 225 rallied 1.9% to 12687 and the Chinese Hang Seng edged up 0.39% to 20969.