US stock futures were steady on Friday after the major averages fell in the previous session, as investors awaited the August consumer price index report. A stronger-than-expected inflation reading could reinforce expectations that the Federal Reserve will raise interest rates next week, following Thursday’s data showing producer prices accelerated last month as the Iran war pushed up wholesale energy costs.
On Thursday, the Dow declined 0.61%, while the S&P 500 and Nasdaq Composite fell 0.59% and 0.65%, respectively, extending each index’s losing streak to four sessions. Stocks were weighed down by rising oil prices and higher Treasury yields, which intensified concerns about inflation.
In corporate news, Oracle rose more than 4% in extended trading after posting better-than-expected quarterly results, while Adobe slipped over 2% after issuing weaker guidance for the current quarter.
