U.S. stock futures were trading mixed early Friday as traders gauged August’s hotter-than-expected Consumer Price Index (CPI) data along with a larger-than-expected increase in unemployment claims.
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Futures on the Nasdaq 100 (NDX) were up 0.01%, while those on the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA) were down 0.05% and 0.08%, respectively, at 3:11 a.m. EST on September 12.
During Thursday’s regular trading session, all three major indexes closed at record highs. The S&P 500 notched up 0.85%, while the Nasdaq Composite added 0.72%. Meanwhile, the Dow Jones advanced 1.36%, closing above the 46,000 level for the first time.
The U.S. consumer inflation rose 0.4% month-over-month, higher than the 0.3% rise expected, while the index climbed 2.9% year-over-year in August, in line with estimates. At the same time, initial jobless claims for the week ending September 6 jumped by 27,000 to 263,000, well above the expected 235,000.
There are no major economic reports or earnings releases scheduled for today. Traders remain focused on the upcoming FOMC meeting next week, where the Fed’s interest rate decision will be announced on September 17. Experts are now projecting a 25-basis-point rate cut in response to the latest inflation and unemployment data.
Meanwhile, the U.S. 10-year Treasury yield was up, floating near 4.04%. WTI crude oil futures were trending lower, hovering near $61.76 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $3,687 per ounce on Friday.
Elsewhere, European stocks opened higher on September 12 following the European Central Bank (ECB) decision to keep interest rates unchanged, as well as the release of the key inflation data from the U.S.
Asia-Pacific Markets Traded Higher Today
Asia-Pacific markets were mostly higher on Friday as investors weighed U.S. inflation data and the increased likelihood of an interest rate cut. Nvidia (NVDA) supplier SK Hynix announced production readiness for its next-gen AI chips, while Chinese tech firms Alibaba (BABA) and Baidu (BIDU) announced they have started using their own chips to train AI models.
Hong Kong’s Hang Seng index gained 1.11%. In China, the Shanghai Composite dropped 0.22%, and the Shenzhen Component was down 0.01%. Meanwhile, Japan’s Nikkei advanced 0.89%, and the Topix climbed 0.40%.
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