Futures in the United States rose slightly on Friday, with upcoming data expected to show that a key inflation gauge fell in November, potentially validating the Federal Reserve's recent decision to slow the pace of policy tightening.
Contracts on the Nasdaq 100 and S&P 500 indexes erased losses to trade higher on the day, with oil companies leading premarket gains. Tesla rose after billionaire Elon Musk announced that he would no longer sell shares in the electric carmaker. The Stoxx 600 in Europe gained, putting it on track for its first weekly gain in three weeks.
On Thursday, stocks fell following reports showing strength in the US labor market and resilient consumer spending. The most recent economic data have more or less confirmed that the Fed will continue to raise interest rates, albeit in slower, 50 basis-point increments. This has put technology stocks on track for their worst December since the dot-com bubble burst two decades ago.
According to Bank of America, equity funds saw outflows of nearly $42 billion in the week ending December 21st, the highest ever, as the Fed, the European Central Bank.