U.S. stock futures trended higher on Friday morning as investors awaited the release of the key Consumer Price Index (CPI) report for September. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.49%, 0.34%, and 0.18%, respectively, at 8:15 a.m. EDT on October 24.
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During Thursday’s regular trading session, the three major indexes finished higher, fueled by positive sentiment for technology stocks and strong third-quarter earnings reports. The S&P 500, the Dow Jones, and the Nasdaq Composite rose 0.58%, 0.31%, and 0.89%, respectively.
Coming to trending stocks, Intel (INTC) stock jumped more than 7% in Friday’s pre-market trading, as the chipmaker announced strong Q3 earnings, driven by notable progress in its ongoing turnaround strategy. Additionally, shares of automaker Ford (F) were up 3.6% on a Q3 earnings beat, although the company lowered its outlook due to production disruptions caused by a fire at a Novelis aluminum plant in New York.
Meanwhile, Inhibrx Biosciences (INBX) stock rallied over 60% in premarket trading after the company reported positive results from a Phase 2 trial of its cancer drug Ozekibart (INBRX-109). Meanwhile, Deckers Outdoor (DECK) stock plunged on a weak outlook.
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