US stock futures rose cautiously on Friday ahead of a shortened trading session.
Futures on the Dow Jones Industrial Average rose 69 points, or 0.20%. S&P 500 futures added 0.14% and Nasdaq 100 futures fell 0.13%, weighed down by shares of Activision Blizzard, which fell in premarket trading on news that the FTC could block Microsoft from acquiring the gaming company.
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 tightening may slow.
The minutes from the Fed’s November meeting signaled that the central bank is seeing progress in its fight against high inflation and appears to be slowing the pace of rate hikes. Stocks jumped on the news Wednesday, notching a second straight day of gains in a week marked by choppy trading and low volumes.
“A significant majority of participants felt that a slowdown in the pace of increase would probably soon be appropriate,” the minutes said.
The markets were closed Thursday for the Thanksgiving holiday and will close at 1:00 PM ET Friday.