US stocks looked set to open higher Friday as investors sifted through key inflation data and monitored oil prices, which were declining.
Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq futures each rose 0.5%.
Oil prices were moving significantly lower, with front-month global benchmarks Brent crude declining 1.38% to $99.07 a barrel, while West Texas Intermediate crude was down 2.24% to $93.59 a barrel.
Personal consumption expenditures were up 0.4% in January, the same as in the previous month and above the 0.3% increase expected. After adjustment for inflation, real PCE increased by 0.1% for the third straight month, compared with expectations for a flat reading.
The PCE price index increased 0.3%, as expected, cutting the year-over-year rate to 2.8% from 2.9%. The price index increased by 0.4% month-over-month in December.
The core PCE price index increased by 0.4%, as expected and followed a 0.4% gain in December. The annual rate accelerated to 3.1% from 3% the previous month.
In other world markets, Japan's Nikkei dropped 1.2%, Hong Kong's Hang Seng fell 1%, and China's Shanghai Composite was down 0.8%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 gained 0.2%, Germany's DAX edged 0.3% higher and France's CAC was up 0.1%.
In equities, Specimen (ISPC) shares were up 82% in Friday premarket activity, after the company said overnight it rolled out its new artificial intelligence-powered Inventory Agent.
Eastman Kodak (KODK) shares were up 6.2% after the company reported late Thursday higher Q4 revenue.
On the losing side, PagerDuty (PD) shares were down 17% in Friday premarket activity, a day after the company issued a lower-than-expected fiscal Q1 outlook in addition to issuing fiscal 2027 revenue guidance that trailed analysts' estimates.
Adobe (ADBE) stock was 8.1% lower, after the company said Thursday its chief executive officer of 18 years, Shantanu Narayen, has decided to transition from his role after a successor has been appointed.
Ulta Beauty (ULTA) shares were down 8.8%, a day after the company reported lower fiscal Q4 earnings.