US stock futures were mixed on Friday as investors braced for an inflation reading that could set the tone for the end of a bumpy data-driven week.
S&P 500 (^GSPC) futures added 0.2% in the wake of another record closing high, but Dow Jones Industrial Average (^DJI) futures hovered below the flat line. Contracts on the tech-heavy Nasdaq 100 (^NDX) outperformed, rising almost 0.6%.
The market has been on a ride this week as a series of mixed data prompted investors to keep reassessing their view of the US economy, and in turn the timing of interest rate cuts. The Dow sank 500 points just a day after notching an all-time high as a surprisingly hot consumer inflation report spurred a rout.
Stocks have made up their deep losses after a steep decline in retail sales, putting weekly wins within reach for the Dow and the S&P 500. A Friday update on another key inflation gauge, the producer price index, will be closely watched given investors are on the alert for data that could sway Federal Reserve policy thinking.
Read more: What the Fed rate decision means for bank accounts, CDs, loans, and credit cards
In earnings-related moves, Coinbase (COIN) shares surged over 14% in premarket trading after the crypto exchange posted its first quarterly profit in two years. Applied Materials (AMAT) stock also jumped after the machinery maker’s forecast signaled a chip sector rebound.
