US Futures Gain as Annual Inflation Cools to 2.8 Percent
US stock futures rose Friday as the PCE inflation gauge met expectations and annual growth cooled. GDP growth for the previous quarter slowed to 0.7 percent.
Stock index futures in the United States trended higher on Friday morning as investors analyzed a fresh batch of economic data for signals regarding the Federal Reserve's future interest rate decisions. The reports provided a comprehensive look at both inflationary pressures and the pace of economic expansion.
The Personal Consumption Expenditure (PCE) index, which the Federal Reserve prioritizes as its primary inflation gauge, rose 0.3% in January on a monthly basis. This figure aligned perfectly with the consensus estimates provided by economists. On an annual basis, the PCE index increased by 2.8%, slightly lower than the 2.9% rise that market participants had anticipated. Core PCE, a metric that excludes the more volatile food and energy sectors, saw a monthly increase of 0.4%, also matching economist forecasts.
