US stock-index futures slipped after the S&P 500’s record streak, with investors awaiting the Federal Reserve’s favored price gauge for signals on the path of interest rates. Contracts for European and US shares edged 0.1% lower ahead of Friday’s report.
Asian shares were mixed while China outperformed ahead of results from the nation’s biggest banks and companies such as Alibaba Group Holding Ltd. and BYD Co.
A gauge of the dollar edged up, while yields on the benchmark 10-year Treasuries rose one basis point to 4.21%. Oil fell 0.5% after gaining in the previous session on waning prospect of a peace agreement between Russia and Ukraine.
The S&P 500 closed at a record high Thursday after data showed the US economy expanded faster than initially estimated, highlighting the resilience of consumer spending.
While that allayed recession jitters, it raised doubts about Friday’s inflation report, which is expected to show core personal consumption expenditures prices rising 2.9% in July, the fastest pace in five months.
“In-line or lower results will likely cement investors’ confidence in a September rate cut,” said Bret Kenwell at eToro.
