Traders work on the New York Stock Exchange trading floor.
New York Stock Exchange
Stock index futures were trading near the flat line Thursday evening as Wall Street awaited key inflation data.
Futures linked to the Dow Jones Industrial Average Not much changes, like S&P 500 Index Futures. Nasdaq 100 Futures The increase was less than 0.1%.
In the after-hours action, costco wholesale It fell 1% after revenue missed expectations. In its fiscal fourth quarter, the warehouse retailer reported earnings of $5.29 per share on fourth-quarter revenue of $79.7 billion. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $5.08 per share on revenue of $79.97 billion.
Thursday's trading session ended strongly, with all three major stock indexes rising. S&P 500 Index It closed at a new record for the third time this week. this Nasdaq Index Also achieved four consecutive victories.
A batch of economic data released Thursday reassured investors about the strength of the U.S. economy. The number of initial jobless claims fell more than expected, indicating a strong labor market. The final value of gross domestic product in the second quarter grew at an annualized rate of 3%.
“The market is pleased that the Fed is taking meaningful steps to realign policy,” said Jeffrey Roach, chief economist at LPL Financial.
Traders are awaiting the release of the personal consumption expenditures price index for August on Friday morning. So-called personal consumption expenditures are the Fed's preferred inflation gauge, and policymakers and Wall Street hope the data shows a cooling trend. Economists expect the overall PCE annualized growth rate to be 2.3%, with a quarterly increase of 0.1%.
The three major stock indexes rose this week, with the S&P 500 index rising nearly 0.8% and 30 stocks rising Dow Jones Industrial Average Expected to rise 0.3%. this Nasdaq Index It's on track to gain about 1.4% so far this week.