⚠️BREAKING: *U.S. STOCK FUTURES EXTEND GAINS AFTER MAY INFLATION DATA FALLS TO 2-YEAR LOW $DIA $SPY $QQQ 🇺🇸🇺🇸
- U.S. stock indexes were on track to open higher on Friday, setting up Wall Street for a strong quarterly performance, as signs of easing inflation offered relief to investors worried about more interest rate hikes from the Federal Reserve.
"It is showing hints of stability and that we're headed in the right direction," said Peter Andersen, founder of Andersen Capital Management in Boston. Traders were pricing in an 86.8% chance that the Fed will hike rates by 25 basis points to 5.25%-5.50% range in its July meeting, according to CMEGroup's Fedwatch tool, down slightly from the 89.3% seen on Thursday.
Despite a recent streak of losses, the three main U.S. indexes are on course to end June and the second quarter on a high note as investors expect the Fed's aggressive tightening will not derail the U.S. economy.
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