Wall Street pointed modestly higher in premarket trading today, according to the Associated Press. Futures for the Dow Jones Industrial Average rose 0.3% before the bell, while S&P 500 futures were up 0.4%.
Those modest gains arrive after a sell-off this week. Markets dipped sharply Thursday, triggered by comments from a Fed official who raised the possibility of delivering no interest rate cuts this year if inflation worsens.
Johnson & Johnson shares rose modestly after the pharmaceutical giant said it was acquiring the medical technology company Shockwave.
In energy markets, oil prices were essentially flat but are up 20% so far this year as demand remains robust. A barrel of benchmark U.S. oil was trading within a few cents of Thursday’s closing price of $86.59 per barrel. Brent crude, the international standard, rose 13 cents to $90.78.
In currency trading, the U.S. dollar edged up to 151.38 Japanese yen from 151.30 yen.
