S&P 500 and Nasdaq 100 futures rise, surpassing all-time intraday highs: Live updates
Futures tied to the S&P 500 and the Nasdaq 100 hit record highs Friday, surpassing all-time intraday highs and mounting a stunning comeback from the lows set in April.
This comes ahead of a data deluge, including inflation numbers, with the market overcoming a wall of worries that includes tariff fights, wars and sticky inflation.
S&P 500 futures climbed 0.11% to hit 6,202.00 at 12:55 am Eastern Time, breaking the intraday all-time high hit in late February of 6,147.43.Nasdaq 100 futuresrose 0.11%, while theDow Jones Industrial Average futuresadded 62 points, or 0.14%.
"The markets were in a sense of stasis," said Rick Rieder, BlackRock's chief investment officer for global fixed income, on CNBC's"Closing Bell.""There is so much money that wants to come into the market that didn't for a while. And I just think if you don't have any negative news, the natural gravitational pull is across all these assets."
Those gains have pushed the Dow and S&P 500 up more than 2% this week. The Nasdaq has jumped more than 3%.
Investors will watch Friday for data from the May reading of personal consumption expenditures price index due in the morning. Economists polled by Dow Jones expect the index to tick 0.1% higher on the month and 2.3% from a year ago. So-called core PCE is slated to rise 0.1% from April and 2.6% from 12 months earlier.
Beyond the inflation reading, traders will also monitor data on personal income, consumer spending and consumer sentiment.
Trump trade deadlines in July ‘not critical’: White House
PresidentDonald Trumpcould extend looming deadlines for reimposing steeptariffson imports from most of the world's countries, the White House said Thursday.
Trump's July 8 and 9 deadlines for restarting tariffs on those nations are "not critical," White House Press Secretary Karoline Leavitt told reporters.
"Perhaps it could be extended, but that's a decision for the president to make," Leavitt said.
Leavitt also said Thursday that if any of those countries refuse to make a trade deal with the United States by the deadlines, "The president can simply provide these countries with a deal."
In late May, Trump threatened to impose tariffs of 50% on imports from European Union nations, all of whom had already been subject to the reciprocal tariffs imposed in April.
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—Kevin Breuninger
See the stocks moving after hours
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— Alex Harring
Stock futures are little changed
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