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Stock Futures are Slightly Higher ahead of Friday’s Session

Following a brief rise on the basis of yet another strong inflation data, the Dow Industrial Average and S&P 500 finished almost flat, while Stock futures eked out a little gain early on Friday. S&P 500 and Nasdaq 100 futures both increased by 0.17% and 0.25%, while Dow Jones futures advanced 45 points, or 0.14%.

After Rivian met top- and bottom-line expectations but cut its full-year projection, the electric car manufacturer’s Stock price fluctuated during overnight trade. After reporting profits, shares of Poshmark, Olo, and Illumina declined. Following a perplexing regular trading session on Thursday that saw the main averages climb earlier in the day after a better-than-anticipated producer price index report for July, the postmarket actions came after a confusing regular trading session.

The Dow gained 27.16 points, or 0.08%, to end at 33,336.67, while the S&P finished 0.07% lower at 4,207.27. The Nasdaq Composite fell by 0.58% to conclude at 12,779.91. Healthcare, which down 0.71%, led the session’s bottom six out of the S&P 500’s 11 sectors. Energy costs increased by more than 3% as a result of increasing crude and natgas prices, shattering the myth of peak inflation. Additionally, Disney shares increased by around 5% after the company reported robust subscriber growth and exceeded expectations in the most recent quarter.

Jeff Kilburg, the chief investment officer of Sanctuary Wealth, said, “I think there’s profit taking today. After this unexpected “one-two punch” of better-than-expected CPI and PPI data, “we didn’t really have a retreat or didn’t reverse any of the gains off of CPI [Wednesday],” but rather we “just sort of had a bit of a volume discovery and a price discovery. “Import prices and consumer sentiment statistics are slated to be released on Friday in the economic front.

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