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U.S. stock futures were modestly higher early Friday as investors awaited August consumer price inflation data. The body also cited elevated Brent and WTI crude prices, the ECB’s 25-basis-point rate hike and several earnings reports later in the day.
U.S. stocks fell on Thursday after August producer price data and surging oil prices stoked worries the Federal Reserve will hike rates next week, while rising Treasury yields made stocks less attractive. Heavyweight chipmakers also lost ground.
Micron and SanDisk rose even after a stronger-than-expected U.S. August jobs report lifted Treasury yields and pushed September Fed hike odds above 50% on Polymarket.