Wall Street Set to Open Modestly Higher Friday as Key Inflation Data Meets Expectations

US stocks look set to open modestly higher in Friday's trading session following the release of key inflation data that met analyst expectations.

The Dow Jones Industrial Average futures were up 0.23%, S&P 500 futures gained 0.34%, and Nasdaq futures were rising 0.31%.

Annual personal consumption expenditure data for April, which was released earlier in the morning, remained unchanged from the previous month at 2.7%, according to Investing.com, which met analysts' forecasts.

Oil prices were moving higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.92% and 0.82% respectively.

In other world markets, Japan's Nikkei climbed 1.14%, Hong Kong's Hang Seng was down 0.83%, and China's Shanghai Composite was off 0.16%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was up 0.58%, while Germany's DAX and France's CAC rose 0.20% and 0.10% respectively.

On the winning side, shares of Novo Integrated Sciences (NVOS) soared 104% in recent Friday premarket activity after it said late Thursday that it received confirmation that HSBC (HSBC) issued a Ready, Willing, and Able for delivery by Swift MT 760, of a standby letter of credit. XChange Tec (XHG) shares jumped 72%, following a 15% loss the previous session. Shares of Nuburu (BURU) surged 69%, more than recovering from Thursday's 12% loss. Latam Logistic Properties' (LPA) shares advanced 42%, adding to a 684% gain the previous session. And shares of C3is Inc. (CISS) climbed 19%, following a 2% loss on Thursday.

On the losing side, shares of Sify Technologies (SIFY) plunged 38%, more than wiping out an 8% gain on Thursday. Smart for Life's (SMFL) stock shed 37%, following a 53% gain the previous session. Shares of Summit Therapeutics' (SMMT) tumbled 25%, after soaring 272% on Thursday. MongoDB (MDB) shares fell 24% after it reported late Thursday fiscal Q2 and 2025 guidance that fell short of analyst forecasts. And share of Dell Technologies (DELL) dropped 16%, a day after reporting lower fiscal Q1 non-GAAP earnings per diluted share from a year earlier.