Stock market today: Live updates

Stock futures were hovering near the flatline Friday ahead of crucial inflation data.

S&P 500 futures rose just 0.06%, while Nasdaq 100 futures ticked lower by 0.1%. Futures tied to the Dow Jones Industrial Average added 81 points, or 0.2%.

Investors are awaiting the release of August’s personal consumption expenditures price index out at 8:30 a.m. ET, as the release is widely known to be the Federal Reserve’s preferred inflation measure. Economists expect the print to reflect an uptick in inflation and markets continue to price in two quarter-point rate cuts at the Fed’s upcoming meetings, in line with what the central bank has projected.

The outcome could sway market reaction, however, after solid jobs data released earlier Thursday and a strong upward revision in second-quarter gross domestic product to 3.8% slightly dampened bullish sentiment. Investors fear fewer jobless claims could mean that the economy is in decent shape and therefore give the Fed less reason to cut interest rates.

The three major U.S. indexes fell again on Thursday while the 10-year Treasury yield rose to 4.2% at one point during the session on the back the latest economic data.

Major players in artificial intelligence, namely Oracle, Meta and Tesla, also pulled back. Oracle lost 5.6%, reflecting growing concerns among a pocket of investors that tech valuations have run far too high and that the interconnected AI industry could be risky.

Week to date, the S&P 500 is down nearly 0.9%. The tech-heavy Nasdaq Composite has lost about 1.1% while the Dow Jones Industrial Average has shed 0.8%.

After this week’s losses, some market participants remain wary while still seeking longer-term buying opportunities. Andrew Slimmon, head of Applied Equity Advisors at Morgan Stanley Investment Management, said he would use any weakness to add to positions in tech.

“The market was vulnerable to a pullback and because tech has been a leader, it’s the most vulnerable,” Slimmon told CNBC. “I would not panic on this action. Any pullback or worse for the euphoria stocks is healthy for the market. I don’t think it’s a good long-term sign when speculation gets rampant.”