Editor’s Note: The future prices of benchmark tracking ETFs, and the lede were updated in the story.
U.S. stock futures were mostly declining on Friday following Thursday’s rally. Futures of major benchmark indices were mixed.
The Donald Trump administration on Thursday urged the D.C. Federal Appeals Court to allow the firing of Federal Reserve Governor Lisa Cook to take effect before the central bank’s interest rate-setting meeting next week.
Meanwhile, Dow closed above the 46,000 mark for the first time on Thursday, despite gloomy economic data. U.S. inflation accelerated to 2.9% year-over-year in August, while weekly jobless claims spiked to 263,000 – their highest level since October 2021.
The 10-year Treasury bond yielded 4.04% and the two-year bond was at 3.56%. The CME Group’s FedWatch tool‘s projections show markets pricing a 100% likelihood of the Federal Reserve cutting the current interest rates for the Sept. 17 decision.
| Futures | Change (+/-) |
| Dow Jones | -0.17% |
| S&P 500 | -0.14% |
| Nasdaq 100 | -0.06% |
| Russell 2000 | -0.45% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were mixed in premarket on Friday. The SPY was down 0.035% at $657.40, while the QQQ advanced 0.13% to $584.82, according to Benzinga Pro data.
Cues From Last Session
Most sectors on the S&P 500 closed on a positive note, with consumer discretionary, health care, and materials stocks recording the biggest gains on Thursday.
However, energy stocks bucked the overall market trend, closing the session slightly lower. This broad strength helped U.S. stocks settle higher, with the Dow Jones gaining more than 600 points as investors assessed key consumer inflation data.
The momentum pushed all three major U.S. equity benchmarks — the S&P 500, Nasdaq 100, and Dow Jones — to fresh record highs as investors piled into risk assets on growing bets that interest rates will soon fall.
Kroger Co. (NYSE:KR) reported better-than-expected second-quarter …