Wall Street finishes strong this week
According to the Associated Press, Wall Street pointed toward gains today ahead of closely watched inflation data that could impact the Federal Reserve’s next interest rate decision.
Futures for the Dow Jones Industrial Average rose 0.3% before the bell, and the S&P 500 gained 0.4%.
The government’s consumer spending report that was released before the opening bell contains a measure of inflation that is closely watched by the Fed, which has been raising rates for more than a year in an effort to bring down inflation not seen since the early 1980s.
U.S. benchmark crude oil added 2 cents to $69.88 per barrel in electronic trading on the New York Mercantile Exchange. It gained 30 cents on Thursday to $69.86 per barrel.
Brent crude oil, the international pricing standard, rose 9 cents to $74.60 per barrel.
The S&P 500 is on track for its sixth winning week in the last seven, and the Nasdaq composite edged down less than 0.1%.