US pre-open: Futures higher ahead of February PCE reading

(Sharecast News) - Wall Street futures were in the green ahead of the bell on Friday as market participants awaited the release of the Federal Reserve's preferred inflation gauge later in the day. As of 1220 GMT, Dow Jones futures were up 0.34%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.35% and 0.28% firmer, respectively.

The Dow closed 193.62 points lower on Thursday as trade war fears and disappointing jobless claims numbers dampened sentiment.

Friday's primary focus, however, will be last month's personal consumption expenditures price index from the Bureau of Economic Analysis, with PCE expected to be up 0.3% month-on-month in January and 2.5% year-on-year. Excluding volatile food and energy prices, economists expect to see so-called monthly and annual core PCE increase by 0.3% and 2.6%, respectively.

Elsewhere on the macro front, preliminary wholesale inventories figures will also be published at 1330 GMT, while the Chicago Federal Reserve's February purchasing managers' index will follow at 1445 GMT.









Reporting by Iain Gilbert at Sharecast.com