Wall Street pointed higher in premarket trading Friday, adding to the hefty gains from a day earlier when government data showed that U.S. inflation eased more expected, spurring hopes the Federal Reserve might scale down plans for more interest rate hikes.
Futures for the Dow Jones Industrial average rose 0.5%. Futures for the S&P 500 also gained 0.5% following Thursday’s biggest single day gain for the benchmark in 2 1/2 years.
On Thursday, the government reported consumer prices rose 7.7% over a year ago in October, lower than the 8% expected by economists and the fourth straight monthly decline.
