S&P Futures Steady After Record Close

Dow Jones
08/14
 
 

The S&P 500 is on track to end the week close to a record high after a boost from slowing inflation and some AI-related stocks.

Futures for the benchmark U.S. index are flat early Friday. On Thursday, the S&P 500 closed at an all-time high for the 27th time this year.

The latest leg-up for stocks came from two inflation readings that appeared to reduce pressure on the Federal Reserve to raise interest rates in September. Meanwhile, data-storage and memory stocks Sandisk, Seagate Technology and Micron have flown higher.

Before Friday's opening bell, Reddit shares jumped on news the social-media company is joining the S&P 500. Oil prices rose after reports that at least one tanker came under attack trying to leave the Persian Gulf.

Retail-sale data due to be published at 8:30 a.m. ET will give a read on U.S. consumer spending.

 

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