US stock futures rose early Friday, with futures tied to the S&P 500 and Nasdaq 100 surpassing their all-time intraday highs, reflecting renewed investor optimism ahead of key economic data releases, CNBC reports.
The gains mark a strong rebound from the market lows seen in April, as investors brush aside concerns over tariffs, geopolitical tensions, and persistent inflation.
At 12:55 a.m. Eastern Time, S&P 500 futures rose 0.11% to 6,202.00, eclipsing the previous record of 6,147.43 set in February. Nasdaq 100 futures also climbed 0.11%, while Dow Jones Industrial Average futures added 62 points, or 0.14%.
“There is so much money that wants to come into the market that didn’t for a while,” said Rick Rieder, BlackRock’s Chief Investment Officer for global fixed income, on CNBC. “If you don’t have any negative news, the natural gravitational pull is across all these assets.”
These gains contributed to a strong week for US equities, with the Dow and S&P 500 up more than 2% and the Nasdaq advancing over 3%.
Investor attention now turns to several important data points expected later Friday, including:
Personal Consumption Expenditures (PCE) Price Index: A key inflation measure. Economists expect a 0.1% monthly increase and 2.3% year-over-year rise.
Core PCE, which excludes food and energy, is also forecast to increase 0.1% from April and 2.6% from a year ago.
Additional reports on personal income, consumer spending, and consumer sentiment are also on the docket.
Market participants are closely watching these indicators for clues about future interest rate policy, especially amid the Federal Reserve’s cautious stance on rate cuts due to lingering inflation concerns.
In Asia-Pacific markets, trading was mostly lower as investors reacted to weak industrial profit data from China. According to official statistics, China’s industrial profits fell 9.1% year-over-year from January through May.
Japan’s Nikkei 225 defied the trend, gaining 1.43% to close at 40,150.79.
South Korea’s Kospi fell 0.77%, while Hong Kong’s Hang Seng slipped 0.17%.
Mainland China’s CSI 300 dropped 0.61%, and Australia’s ASX 200 declined 0.43%.
India’s Nifty 50 and BSE Sensex edged higher in morning trade.
Meanwhile, trade remains in focus in Washington. White House Press Secretary Karoline Leavitt said President Donald Trump may extend July deadlines for imposing new global tariffs. The administration is currently considering 50% tariffs on EU imports, although no final decisions have been announced.
These developments add to a complex backdrop for global markets, which are balancing trade uncertainty, central bank policy, and corporate earnings.
Among notable stock moves after the close:
Nike shares fell 2% despite beating expectations; revenue declined 12% year-over-year.
CorMedix dropped 10% following an $85 million common stock offering.
