U.S. stock futures were edging higher early Friday as investors awaited the release of the key Consumer Price Index (CPI) report for September, due later today. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.37%, 0.23%, and 0.13%, respectively, at 3:39 a.m. EDT on October 24.
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During Thursday’s regular trading session, the three major indexes finished higher, fueled by gains in technology stocks and strong third-quarter earnings reports. The S&P 500, the Dow Jones, and the Nasdaq Composite rose 0.58%, 0.31%, and 0.89%, respectively.
After the markets closed yesterday, Intel (INTC) surged 7.7% following the chipmaker’s strong Q3 earnings report, highlighting notable progress in its ongoing turnaround strategy. Automaker Ford (F) also reported a Q3 beat but lowered its outlook due to production disruptions caused by a fire at a Novelis aluminum plant in New York.
The major indexes are on track to finish the week in positive territory. The S&P 500 is set to rise about 1.1% for the week, while the Nasdaq and Dow are both on track to gain nearly 1.2%, week to date.
Investors are now focused on the release of September’s CPI report, which was originally due on October 15 but delayed due to the government shutdown. This inflation report is expected to be the last key economic indicator before the Federal Reserve’s October 28-29 meeting next week.
On the earnings front, several key companies are scheduled to release their quarterly earnings today. These include Procter & Gamble (PG), Booz Allen (BAH), General Dynamics (GD), and Sanofi (SNY).
Notably, the U.S. 10-year Treasury yield was up, floating near 3.99%. WTI crude oil futures were trending lower, hovering near $61.49 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price decreased to nearly $4,091 per ounce on Friday.
Elsewhere, European stocks opened mostly higher on October 24, backed by strong corporate earnings and improving investor sentiment.
Asia-Pacific Markets Traded Higher Today
Asia-Pacific markets traded higher on Friday following confirmation of a meeting next week between the U.S. and Chinese presidents.
Hong Kong’s Hang Seng index advanced 0.74%. In China, the Shanghai Composite rose 0.71%, and the Shenzhen Component gained 1.60%. Meanwhile, Japan’s Nikkei climbed 1.35%, and the Topix added 0.48%.
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