On Friday, US stock futures saw a slight uptick, with contracts for the three major indices rising approximately 0.3%. This increase was driven by investors reacting positively to the latest PCE (Personal Consumption Expenditures) report, which indicated that inflation pressures have maintained stability. The data aligned with forecasts, showing no significant change in core inflation, while headline PCE inflation experienced a minor increase. These findings bolstered market expectations that the Federal Reserve could feasibly reduce interest rates further this year, with investors already anticipating additional rate cuts in the coming months.
On the international trade stage, President Trump announced the imposition of a 100% tariff on branded or patented pharmaceutical products starting October 1st, unless the manufacturers decide to establish production plants in the United States. Other proposed trade measures include a 25% duty on heavy trucks, a 50% tariff on kitchen cabinets and bathroom vanities, and a 30% tax on imported upholstered furniture.
In premarket trading activity, Eli Lilly saw a gain of 1.4%, while Pfizer's shares increased by 1%. Boeing experienced a nearly 4% jump after reports emerged suggesting that the FAA (Federal Aviation Administration) is set to ease restrictions on aircraft deliveries.
