Stock market today: US futures rise as key Fed-watched inflation data keeps cooling

US stock futures rose on Friday as a closely watched inflation gauge kept up momentum on cooling inflation and investors absorbed the fallout of the Biden-Trump debate. S&P 500 futures advanced roughly 0.3% 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.

The last significant data point of that first half came in the latest reading of the Fed's preferred inflation gauge, which Yahoo Finance's Josh Schafer reported showed inflation eased in May as prices increased at their slowest pace since March 2021. The core Personal Consumption Expenditures index, which strips out the cost of food and energy and is closely watched by the Fed, rose 0.1 % in May from the prior month, in line with Wall Street's expectations.

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