(RTTNews) – The major U.S. index futures are currently pointing to a higher open on Friday, with stocks poised to add to the gains posted in the previous session.
The markets may continue to benefit from a positive reaction to yesterday’s highly anticipated consumer price inflation data.
While the report showed the annual rate of consumer price inflation reached the highest level in nearly thirteen years, traders seem optimistic that the spike in prices will be transitory.
Federal Reserve officials have repeatedly downplayed the risks of prolonged inflation, leading to expectations that the central bank will not be in any hurry to tighten monetary policy.
The Federal Reserve is scheduled to hold its next monetary policy next week, which may still lead to some caution among investors.
Stocks fluctuated over the course of the trading session on Thursday but largely maintained a positive bias on the day before closing mostly higher. With the upward move, the S&P 500 reached a new record closing high.
The major averages all closed in positive territory, although the Dow inched up just 19.10 points or 0.1 percent to 34,466.24. The tech-heavy Nasdaq advanced 108.58 points or 0.8 percent to 14,020.33 and the S&P