U.S. stock futures edged up Friday ahead of fresh data on manufacturing and services sectors that will provide more insights into the pace of the economic recovery.
Futures tied to the S&P 500 ticked up 0.3%, suggesting that the broad market gauge may end the week largely flat after dropping 0.4% by the close on Thursday. Nasdaq-100 futures also edged 0.3% higher Friday, pointing to big technology stocks sealing their best week since mid April.
Stocks have ground lower this week on mounting concern that inflation will rise and remain elevated as the economy rebounds. Sentiment reversed on Thursday after initial jobless claims, seen as a proxy for layoffs, fell to a new pandemic low. Investors have poured back into risky assets including growth stocks and cryptocurrencies, prompting prices to rebound from the week’s lows.
“There was some relief that the labor market recovery is under way in the U.S. and…