Stock Futures Indicating A Slightly Higher Open After Reversing Early Losses
U.S. stock futures are higher. Stock futures are indicating a slightly higher open today after reversing early losses. The S&P 500 Index is looking to close the week on a positive note after notching a 1.1% gain through yesterday’s close on the back of decent earnings results and Fed-friendly economic data. Earlier this morning, December PCE data was released, showing that headline Personal Consumption Expenditures year-over-year were 2.6%, matching last month’s figure and beating expectations of 2.7%. Core PCE came in cooler than expected at 2.9% versus prior month and expectations of 3.2% and 3.0% respectively. This marks the lowest levels for Core PCE since March 2021. Bond yields ticked higher immeadiately post report and are now reversing lower into unchanged territory. Asian markets closed mixed and European markets are higher in afternoon trading. Crude oil is lower, giving up some of yesterday’s gains but still positive on the week. Gold prices are ticking higher and the U.S. Dollar is weakening
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