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Dow Futures Rise on Easing Inflation Pressures

U.S. stock futures ticked higher on Sunday night following weekly gains for major averages.

Dow Jones U.S. Stocks
Dow Jones U.S. Stocks

The uptick came as new hourly earnings data and a contracting services sector suggested easing inflation pressures. As of 6:30 PM ET, Dow Jones Futures were up 0.1%, S&P 500 Futures rose 0.2%, and Nasdaq 100 Futures increased by 0.4%.

Key Economic Data and Earnings Reports Ahead

Market participants will pay attention to various economic indicators in the coming week, including the December Consumer Price Index, Michigan consumer sentiment, and import and export prices. There will also be speeches from Federal Reserve Chair Jerome Powell and FOMC Member Harker. Major banking firms, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are expected to report earnings.

Friday's Market Performance

On Friday, the Dow Jones Industrial Average rose 700.5 points, or 2.1%, to 33,630.6. The S&P 500 gained 87 points, or 2.3%, to reach 3,895.1, and the NASDAQ Composite increased 264.1 points, or 2.6%, to 10,569.3. For the week, the Dow rose 1.4%, the S&P 500 added 1.1%, and the NASDAQ ticked up 0.1%.