After moving sharply higher over the course of the previous session, stocks may give back some ground in early trading on Friday. The major index futures are currently pointing to a modestly lower open for the markets, with the Dow futures down by 20 points.
Lingering concerns about the outlook for the Federal Reserve's asset purchase program may weigh on the markets, inspiring traders to cash in on yesterday's gains.
While upbeat retail sales and jobless claims data released Thursday generated optimism about the outlook for the economy, the reports also suggested that the Fed may scale back its stimulus program in the relatively near future.
Recent comments from Fed officials have suggested that signs of sustained economic improvement may lead the central bank to taper the program within the next few meetings.
On the economic front, the Labor Department recently released a report showing that producer prices rose by more than anticipated in the month of May, with the price growth largely due to a notable rebound by energy prices.
The Labor Department said its producer price index rose by 0.5 percent in May following a 0.7 percent decrease in April. Economists had been expecting producer prices to edge up by 0.2 percent.
Excluding the jump in energy prices as well as an increase in food prices, the core producer price index inched up by 0.1 percent for the second straight month, matching economist estimates.
Shortly before the start of trading, the Federal Reserve is scheduled to release a separate report on industrial production in the month of May. Economists expect production to increase by 0.2 percent.
Reuters and the University of Michigan are also scheduled to release their preliminary report on consumer sentiment in June. The consumer sentiment index is expected to come in unchanged compared to the previous month at 84.5.
Stocks moved sharply higher over the course of the trading day on Thursday, regaining some ground after moving notably lower earlier in the week. The markets benefited from a positive reaction to the release of a batch of economic data.
The major averages pulled back off their highs going into the close but still closed firmly in positive territory. The Dow surged up 180.85 points or 1.2 percent to 15,176.08, the Nasdaq jumped 44.93 points or 1.3 percent to 3,445.37 and the S&P 500 soared 23.84 points or 1.5 percent to 1,636.36.
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Friday. Japan's Nikkei 225 Index surged up by 1.9 percent following yesterday's sell-off, while Hong Kong's Hang Seng Index rose by 0.4 percent.
The major European markets have also moved to the upside on the day. While the U.K.'s FTSE 100 Index has edged up by 0.2 percent, the French CAC 40 Index and the German DAX Index are up by 0.5 percent and 0.6 percent, respectively.
In commodities trading, crude oil futures are climbing $0.65 to $97.34 a barrel after advancing $0.81 to $96.69 a barrel on Thursday. Gold futures are trading at $1,387.90 an ounce, up $10.10. In the previous session, gold fell $14.20 to $1,377.80 an ounce.
On the currency front, the U.S. dollar is trading at 95.11 yen compared to the 95.38 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.3310 compared to yesterday's $1.3375.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.