FX.co ★ US Futures Extend Rise after Inflation Report

U.S. stock futures built on recent gains Friday as inflation data came in lower than anticipated, strengthening prospects for a Federal Reserve interest rate cut in the upcoming week. Futures for the S&P 500 increased by 0.8%, the Nasdaq 100 rose by 1.1%, and Dow Jones futures advanced by roughly 250 points. September's inflation rate eased to 3.0%, falling short of expectations, according to a key Consumer Price Index (CPI) report. This fueled optimism in the markets. In premarket activity, major technology companies were on the rise, with Nvidia increasing by 1%, Microsoft by 0.7%, Apple by 0.8%, Amazon by 0.2%, Alphabet by 0.6%, and Meta by 0.9%. Strong corporate earnings further buoyed market sentiment: Intel saw a 6% surge on reporting better-than-anticipated third-quarter sales, while Procter & Gamble climbed 3% post robust quarterly results. Target also saw an uptick after disclosing an 8% reduction in its corporate workforce, marking its first significant layoff in a decade.