US stock futures drift higher; PCE data, Presidential debate in focus
Investing.com-- U.S. stock index futures rose slightly in evening deals on Thursday as investors kept to the sidelines ahead of key inflation data that is likely to factor into the outlook for interest rates.
The data is expected to show inflation cooled slightly in May, but remained well above the Fed’s 2% annual target range. This notion helped Wall Street eke out some gains on Thursday, even as heavyweight chipmaking stocks tumbled on a somewhat middling revenue forecast from Micron Technology Inc (NASDAQ:
A slew of Fed officials warned this week that sticky inflation will see the bank keep rates high for longer.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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