U.S. stock index futures advanced Friday as Treasury yields eased from multi-year highs and powered gains in growth stocks, while investors awaited a crucial inflation metric to assess the outlook for the Federal Reserve's monetary policy.
Apple, Microsoft, Tesla, Alphabet , Amazon.com and Nvidia advanced between 0.7% and 1.5% in premarket trading as two-year and 10-year Treasury yields declined.
The core rate, which excludes the volatile food and energy components, is expected to have increased 0.2% in August, similar to July's reading. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to around 36% in June and July.At 7:03 a.m. ET, Dow e-minis were up 166 points, or 0.49%, S&P 500 e-minis were up 21.25 points, or 0.49%, and Nasdaq 100 e-minis were up 92.5 points, or 0.62%.
The S&P 500 and the Nasdaq are poised for their worst monthly showing of the year amid uncertainty around interest rates. All the three indexes, including the Dow, are set for their first quarterly decline in 2023.
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