Stock market today: US futures rise with key inflation data on deck

US stock futures rose on Friday ahead of an inflation reading key to Federal Reserve policy, as investors weighed signs of slowing in the US economy and absorbed the fallout of the Biden-Trump debate. S&P 500 futures advanced roughly 0.4% after the benchmark closed a step nearer to its record high. Contracts on the tech-heavy Nasdaq 100 were also 0.4% higher, while Dow Jones Industrial Average futures hovered above the flatline.

With November's US election high on the list of risks, investors took note of President Joe Biden's weak showing in his first debate with Donald Trump. The former president's promised tax cuts and trade clampdown are seen as likely to boost stocks. Shares in Trump Media & Technology Group jumped in pre-market trading. The marquee event on Friday is the release of May's Personal Consumption Expenditures price index, the Fed's preferred inflation measure.

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Markets today: Stocks and bonds gain as PCE bolsters fed-cut betsStock futures rose and bond yields fell as a cooldown in the U.S. Federal Reserve’s preferred inflation gauge reinforced bets policymakers will have room to cut rates this year.
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