Oil Price Decline Boosts US Stock Futures Amid Inflation Concerns
US stock futures rose on Friday, led by the NASDAQ 100, as falling oil prices eased concerns about inflation. The gains followed a rebound in major US indexes after the Federal Reserve's latest interest rate increase.
The price of Brent crude and US West Texas Intermediate futures dropped nearly 2% each, reducing pressure on inflation expectations. Energy costs have been a concern for investors because higher fuel and transport expenses can feed into consumer prices.
Treasury yields also retreated, with the 10-year US Treasury yield falling more than seven basis points to 4.93%. Technology stocks remained a key source of strength, with NVIDIA rising about 1% in premarket trading.
Fund flows presented a mixed picture, with Bank of America data showing investors added a net $79.3 billion to stocks in the week through Wednesday. However, separate LSEG Lipper data showed global equity funds recorded $23.21 billion in net withdrawals.