Stock Market Today: S&P 500, Dow Jones Futures Rise After Cooler June PCE Inflation Data—Apple, Amazon, C

U.S. stock futures rose on Friday, as the Dow Jones, S&P 500, and Nasdaq 100 indices advanced, following Thursday’s higher close.

On Thursday, cooler June PCE inflation data and softer-than-expected second-quarter GDP reinforced expectations that inflation pressures may be easing after the Fed left rates unchanged at its July meeting.

Heightened security concerns around Egypt’s Suez Canal—amplified by a recent drone attack near Damietta—could increase war-risk insurance premiums, raise shipping costs and, if disruptions persist, add to inflationary pressures.

Meanwhile, the 10-year Treasury bond yielded 4.65%, and the two-year bond was at 4.24%. The CME Group’s FedWatch tool’s projections show markets pricing a 63% likelihood of the Federal Reserve hiking the current interest rates during its September meeting.

Stocks in Focus

Apple

• Benzinga’s Edge Stock Rankings indicate that AAPL maintains a strong price trend in the long, short, and medium terms, with a good quality score.

Amazon.com

• Amazon.com Inc. (NASDAQ:AMZN) surged by 12.31% after posting upbeat financial results for the second quarter on Thursday after the closing bell.

• Benzinga’s Edge Stock Rankings indicate that AMZN maintains a weak price trend in the short, long, and medium terms, with a good growth score.

Reddit

• Reddit Inc. (NYSE:RDDT) tumbled 9.57% despite reporting better-than-expected earnings and revenue in its second-quarter results released after Thursday’s closing bell.

• Benzinga’s Edge Stock Rankings indicate that RDDT maintains a weak price trend in the long term but a strong trend in the short and medium terms, with a poor value score.

Coinbase Global

• Benzinga’s Edge Stock Rankings indicate that COIN maintains a weak price trend in the long, short, and medium terms, with a good quality score.

Strategy

• Benzinga’s Edge Stock Rankings indicate that MSTR maintains a weak price trend in the short, long, and medium terms.

Cues From Last Session

Industrials, information technology, and consumer discretionary stocks led Thursday’s gains as most S&P 500 sectors closed higher, though communication services and consumer staples bucked the trend by ending lower.

Insights From Analysts

Brian Rehling, Co-Head of Global Fixed Income and Digital Asset Strategy at Wells Fargo Advisors, expects financial markets to remain dynamic and driven by headlines, even as the “U.S. economy has remained surprisingly resilient.” He highlights that consumers are still spending, businesses continue to invest, and the labor market has held up well, keeping overall economic growth on track.

However, ongoing volatility in oil prices has added a critical layer of uncertainty to broader market sentiment. Because energy costs directly impact transportation and manufacturing, surging oil prices threaten to reignite broader inflation concerns.

As Rehling notes, “oil volatility is no longer just about energy. It has become an important factor shaping inflation expectations.”

Rather than reacting to temporary market swings, Rehling advises investors to “stay disciplined while others get distracted by the latest headline.”

He views commodities favorably as a tool for potential inflation protection and diversification. Additionally, he points to short-term fixed income as an attractive opportunity to capture meaningful yields while preserving flexibility.

Upcoming Economic Data

Here’s what investors will be keeping an eye on this Friday.

• July’s Chicago PMI will be released by 9:45 a.m., and July’s final University of Michigan consumer sentiment data will be out by 10:00 a.m. ET.

Commodities, Crypto, And Global Equity Markets

Crude Oil WTI futures were trading lower in the early New York session by 1.04% to hover around $82.72 per barrel.

Gold Spot US Dollar fell 1.13% to hover around $4,057.62 per ounce. The U.S. Dollar Index spot was 0.29% higher at the 100.1570 level.

Meanwhile, Bitcoin was trading 0.43% lower at $63,902.14 per coin over the last 24 hours.

Asian markets closed higher on Friday, as Japan’s Nikkei 225, Hong Kong’s Hang Seng, India’s Nifty 50, South Korea’s Kospi, Australia’s ASX 200, and China’s CSI 300 indices rose. European markets were also higher in early trade.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Frontpage / Shutterstock.com