Wall Street Set to Open Higher Friday as Investors Parse Inflation Data, Oil Prices

US stocks looked set to open higher Friday as investors sifted through key inflation data and monitored oil prices, which were declining.

Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq futures each rose 0.5%.

Oil prices were moving significantly lower, with front-month global benchmarks Brent crude declining 1.38% to $99.07 a barrel, while West Texas Intermediate crude was down 2.24% to $93.59 a barrel.

Personal consumption expenditures were up 0.4% in January, the same as in the previous month and above the 0.3% increase expected. After adjustment for inflation, real PCE increased by 0.1% for the third straight month, compared with expectations for a flat reading.

The PCE price index increased 0.3%, as expected, cutting the year-over-year rate to 2.8% from 2.9%. The price index increased by 0.4% month-over-month in December.

The core PCE price index increased by 0.4%, as expected and followed a 0.4% gain in December. The annual rate accelerated to 3.1% from 3% the previous month.

In other world markets, Japan's Nikkei dropped 1.2%, Hong Kong's Hang Seng fell 1%, and China's Shanghai Composite was down 0.8%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 gained 0.2%, Germany's DAX edged 0.3% higher and France's CAC was up 0.1%.

In equities, Specimen (ISPC) shares were up 82% in Friday premarket activity, after the company said overnight it rolled out its new artificial intelligence-powered Inventory Agent.

Eastman Kodak (KODK) shares were up 6.2% after the company reported late Thursday higher Q4 revenue.

On the losing side, PagerDuty (PD) shares were down 17% in Friday premarket activity, a day after the company issued a lower-than-expected fiscal Q1 outlook in addition to issuing fiscal 2027 revenue guidance that trailed analysts' estimates.

Adobe (ADBE) stock was 8.1% lower, after the company said Thursday its chief executive officer of 18 years, Shantanu Narayen, has decided to transition from his role after a successor has been appointed.

Ulta Beauty (ULTA) shares were down 8.8%, a day after the company reported lower fiscal Q4 earnings.