09:02 AM EDT, 06/27/2025 (MT Newswires) -- US equity futures were up ahead of Friday's opening bell as traders digested the Federal Reserve's preferred measure of US inflation amid an improving global trade outlook.

Dow Jones Industrial Average futures were up 0.3%, S&P 500 futures were up 0.3%, and Nasdaq futures were up 0.4%.

The US and China have reached a trade deal, and trade deals with 10 other countries are on the table, US Commerce Secretary Howard Lutnick said late Thursday.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.3% at $66.91 per barrel and US West Texas Intermediate crude 0.6% higher at $65.60 per barrel.

The personal consumption expenditures price index, released at 8:30 am ET, rose 0.1% in May, as expected, while the core measure, the Fed's preferred inflation gauge, rose 0.2% - above expectations for a 0.1% increase.

The University of Michigan consumer sentiment index, due at 10 am ET, is seen coming in unchanged from the mid-month flash at 60.5 in the final report for June.

In other world markets, Japan's Nikkei closed 1.4% higher, Hong Kong's Hang Seng ended 0.2% lower, and China's Shanghai Composite finished 0.7% lower. Meanwhile, the UK's FTSE 100 was up 0.5%, and Germany's DAX index was up 0.8% in Europe's early afternoon session.

In equities, Bone Biologics ( BBLG ) shares were 81% higher pre-bell after the company said it filed a patent application with the US Patent and Trademark Office for its bone regeneration technology.

On the losing side, Achieve Life Sciences ( ACHV ) shares were down nearly 18% premarket after the company said late Thursday it priced a $45 million public offering of securities.