DJIA futures up 14 points (Il Sole 24 Ore Radiocor) - New York, 28 Jun - US futures were higher ahead of key inflation data on the final trading day of the first half as investors mulled fallout from the Biden-Trump presidential debate.

Wall Street ended modestly higher yesterday ahead of the close of a first six months of business. To date the benchmark S&P 500 has risen 15% despite the persistence of sticky inflation, driven mainly by the frenzy over AI prospects which many believe still has a way to go.

The main focus today will be the personal-consumption expenditures price index, considered to be the Federal Reserve's preferred inflation gauge. Stubborn inflation has prompted the Fed to put back moves to cut interest rates until later this year at the earliest. This week Fed Governor Michelle Bowman said that rates would have to be kept steady "for some time" and were 'for future years'.

Economists expect core PCE, stripping out volatile energy and food, to slow down from the previous month to come in at 2.6% on a yearly basis.

Investors are also chewing over last night's first presidential debate between Joe Biden and former president Donald Trump, widely perceived to have gone against the incumbent. The market has so far been cautious over taking election-related bets but Biden's faltering showing yesterday could prick some into action.

Shares of Trump Media & Technology Group were up 20% in premarket trading.

Elsewhere on the stocks front, shares in Nike were down 15% before the bell after the sports footwear company reported a surprise drop in quarterly sales and cut its revenue outlook.

Walgreens Boots Alliance fell further after its 22% loss yesterday following disappointing results.

Futures on the Dow Jones were up 14.00 points, or 0.04%, S&P 500 futures were up 18.50 points, or 0.33%, while futures on the Nasdaq were 85.25 points, or 0.43%, higher.

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(RADIOCOR) 28-06-24 13:51:23 (0364) 5 NNNN