- Stocks pared gains made on Thursday as investors processed remarks from federal reserve officials who remained adamant about the need for additional interest-rate hikes despite lower-than-expected US inflation statistics.
- After the S&P 500 reached a three-month high and the NASDAQ 100 rose 20% above a June low on Wednesday, gains in US equities futures were reduced. After the success of its streaming service, Walt Disney experienced a surge in premarket trading. After the dating app business lowered its revenue projection, Bumble fell.
- US headline inflation in July was 8.5%, down from the highest reading in four decades of 9.1% in June. Fed policymakers quickly emphasized that additional rate increases are on the way to combat pricing pressures and sent a message to investors that they should reconsider expecting cuts to support economic growth next year.
