07/12/2022

Stock futures inch higher to close out upbeat week

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

Futures on the Dow Jones Industrial Average rose 50 points, or 0.15%. S&P 500 futures added 0.19% and Nasdaq 100 futures were up 0.18%.

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.

“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 p.m. ET on Friday.

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