U.S. stock futures pointed to a broadly higher open on Friday, while oil prices edged up in Asia. Brent crude futures rose 0.9% to $87.85 a barrel, as investors weighed incoming U.S. data later in the day.
Gold was steady. Spot gold was little changed at $4,353.73 per ounce, while U.S. gold futures fell 0.3% to $4,408.72. By 7:50 a.m. ET, Dow futures were down 76 points, S&P 500 futures were up 6 points, and Nasdaq 100 futures had gained 71.50 points, suggesting a mixed-to-firm start for major indexes.
Key takeaways
- Stocks: U.S. futures indicated a broadly higher open, with Nasdaq 100 futures leading the gains.
- Oil: Brent rose 0.9% to $87.85 a barrel, supporting energy sentiment.
- Gold: Spot gold was steady, while U.S. gold futures were slightly lower.
- Catalyst: Investors are positioned for scheduled U.S. releases including Retail Sales, Business Inventories, and Consumer Sentiment.
- Implication: Trading may hinge on whether incoming data reinforces or challenges expectations for economic momentum and rates.
What drove the early market moves
Oil prices continued to grind higher in Asian trading, with Brent crude futures up 0.9% to $87.85. The firm tone in energy markets came as traders looked ahead to a packed U.S. macro calendar that could influence expectations for demand and interest rates—two key drivers for commodities.
Gold held near flat levels in spot trading. Spot gold was reported at $4,353.73 per ounce, while U.S. gold futures dipped 0.3% to $4,408.72. The slight divergence suggested modest short-term repositioning rather than a major shift in the broader precious-metals outlook.
U.S. stocks set for follow-through after Thursday’s gains
Thursday’s session ended positive for Wall Street’s major averages, setting the tone for Friday’s premarket positioning. According to market close figures, the Nasdaq Composite advanced 214.54 points, or 0.8%, to 26,803.03—its two-month closing high. The S&P 500 rose 50.49 points, or 0.7%, to 7,798.99, while the Dow gained 69.72 points, or 0.1%, to 53,839.99.
The composition of Thursday’s rally mattered for Friday’s futures picture. With Nasdaq futures showing the strongest relative improvement at the open indication, investors appeared inclined to maintain exposure to growth-leaning areas—at least until fresh data changes the near-term outlook for rates and economic activity.
U.S. data and scheduled events to watch
Friday’s market focus is on multiple U.S. releases that could move both equities and interest-rate expectations. At 8:30 a.m. ET, Retail Sales for July is scheduled to be released. The consensus call is for a 0.1% increase, compared with a 0.2% rise in the prior month.
At 10:00 a.m. ET, Business Inventories for June will follow, with consensus pointing to a 0.2% increase versus a 0.3% gain in the previous month. Also at 10:00 a.m. ET, Consumer Sentiment for August is expected, with a forecast of 54.2 compared with 55.2 in the prior month.
Later in the session, the Baker Hughes Rig Count for the week is due at 1:00 p.m. ET. The prior week’s figures cited were 804 rigs in North America and 588 in the U.S. Any change in drilling activity can quickly influence energy supply expectations and, by extension, crude pricing.
Asian markets: mixed closes and regional divergence
Markets in Asia ended mixed on Friday. China’s Shanghai Composite closed marginally higher at 3,927.18, while Hong Kong’s Hang Seng fell 1.10% to 25,116.85. In Japan, equities rose notably: the Nikkei average gained 0.59% to 68,713.80, and the broader Topix advanced 0.51% to 4,197.20.
Australia ended lower. The benchmark S&P/ASX 200 dropped 0.80% to 9,115.20, while the All Ordinaries settled 0.73% lower at 9,313.20. This cross-Asia mix suggests investors were not moving in lockstep, leaving room for U.S. economic releases to set the day’s dominant narrative for global risk assets.
Bigger picture: what investors will likely track
With the U.S. macro calendar front and center, investors are likely to scrutinize whether Retail Sales and Consumer Sentiment confirm continued demand resilience or point to a cooling trend. Data on inventories will also help shape views on corporate pricing power and production pacing—inputs that often feed into broader earnings expectations.
In commodities, oil’s modest rise keeps attention on supply dynamics, while gold’s relative stability suggests traders are not yet aggressively repricing the outlook for real yields or the dollar. Still, gold and crude can react quickly if U.S. figures shift expectations for the Federal Reserve’s policy path.
Heading into the next session, markets will likely focus on the first major data point—Retail Sales at 8:30 a.m. ET—followed by inventories and consumer sentiment at 10:00 a.m. ET. The weekly Baker Hughes rig count at 1:00 p.m. ET could add another catalyst for crude traders, particularly if drilling trends move in a direction that changes supply expectations.
