U.S. stock futures were largely muted Friday as the major indexes looked to build on Thursday’s rally.
S&P 500 (^GSPC) futures rose 0.1%, while those linked to the Dow Jones Industrial Average (^DJI) rose 0.2%. Futures on the tech-heavy Nasdaq 100 0.1% off.
The move on Friday came as China reported that its economy grew at full steam last month, easing concerns about the world’s second-largest economy. The U.S. Auto Workers Union has officially launched a historic strike at select Big 3 auto plants.
All eyes continue to be on British chipmaker Arm ( ARM ), which opened on the public markets on Thursday, rising nearly 25%. Arm stock rose nearly 5% in premarket trading Friday.
Wall Street benchmarks rallied on Thursday after retail sales and wholesale inflation rose more than expected in August. Those signs of resilience in U.S. consumers and price pressures point to a case for more federal rate hikes.
The recent rally in oil prices has fueled inflation, which has had a significant impact on stocks. On Friday, WTI crude (CL=F) and Brent (BZ=F) futures traded near 2023 highs on Thursday.
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