U.S. stock futures were mostly edging down early Friday after surging to new highs the previous day on the back hopes for interest-rate cuts.
In corporate news, Warner Bros. Discovery stock will be in focus as Paramount Skydance is preparing a bid for its fellow movie studio and streaming company, according to a Wall Street Journal report.
Dow Jones Industrial Average futures were down 44 points, or 0.1%. S&P 500 futures were falling 0.1% and Nasdaq 100 futures were broadly flat.
The Dow surpassed 46,000 for the first time on Thursday and all three indexes closed at records after the latest inflation data came in as expected and appeared to fully convince traders that the Federal Reserve will cut interest rates at its monetary-policy meeting next week.
“Inflation is still above target and the Fed is likely to continue suggesting that it will stay elevated in the near-term due to tariffs. However, the downside risk to its jobs mandate is now outweighing that of the upside risk to price stability,” wrote ING economist James Knightley in a research note.
ING economists are forecasting a quarter point interest-rate cut at the Fed’s September meeting, followed up by the same level of reduction at the October, December, January and March meetings.
The yield on the benchmark 10-year Treasury note stood at 4.035% early on Friday, ticking up from the previous day.
