Stock futures inch higher to close out upbeat week

Stock futures inch higher to close out upbeat week

US stock futures inched cautiously higher on Friday ahead of a shortened trading session.

Futures on the Dow Jones Industrial Average rose 69 points, gold 0.20%. S&P 500 futures added 0.14% and Nasdaq 100 futures slipped 0.13%, weighed down by shares of Activision Blizzard, which fell in premarket trading on news that the FTC could block Microsoft from taking over the gaming company.

Wall Street looks set to close out an upbeat holiday-shortened week, after the Federal Reserve’s latest meeting minutes added to expectations that monetary policy tightening may slow down.

Minutes from the Fed’s November meeting signaled that the central bank is seeing progress in its fight against high inflation and is looking to slow the pace of rate hikes. Stocks jumped on the news Wednesday, notching the second consecutive day of gains in a week marked by choppy trading and low volumes.

“A substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate,” the minutes stated.

Markets were closed on Thursday for the Thanksgiving holiday and will close at 1 pm ET on Friday.

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