09:21 AM EDT, 03/28/2025 (MT Newswires) -- US stocks looked set to open lower on Friday as investors reacted to key inflation data that came in higher than expected.

The Dow Jones Industrial Average futures fell 0.31%, S&P 500 futures were declining 0.39%, and Nasdaq futures were down 0.56%.

Oil prices were rising slightly, with front-month global benchmarks Brent crude and West Texas Intermediate crude up 0.12% and 0.07% respectively.

The core Personal Consumption Expenditure Price Index, which excludes food and energy, rose by 0.4% in February, above the 0.3% gain in January and the 0.3% increase expected by analysts.

And on an annual basis, the core PCE Price rose to 2.8% in February from 2.7% the previous month.

The University of Michigan Consumer Sentiment Index will be released at 10:00 am ET. Expectations are for the index to remain flat in March at 57.9, according to Bloomberg.

In other world markets, Japan's Nikkei shed 1.80%, Hong Kong's Hang Seng fell 0.65%, and China's Shanghai Composite closed 0.67% lower. In Europe's early afternoon session, the UK's FTSE 100 was up 0.12%, while Germany's DAX and France's CAC 40 were down 0.76 and 0.73%, respectively.

In equities, shares of Portage Biotech ( PRTG ) soared 154% in Friday's premarket session after the company reported overnight "encouraging" efficacy data in a murine mesothelioma model with PORT-7 given as a single agent or in combination with an anti-PD-1 antibody. Lexicon Pharmaceuticals ( LXRX ) shares jumped 86% after it said Friday that it signed an exclusive license agreement with Novo Nordisk ( NVO ) for LX9851, a drug targeting obesity and associated metabolic disorders. DBV Technologies ( DBVT ) shares jumped 55% after it disclosed late Thursday financing of up to $306.9 million to finance a peanut allergy patch for children aged four to seven years old.

On the losing side, Wolfspeed ( WOLF ) shares tumbled 38%, adding to an 8% loss the previous session. XTI Aerospace ( XTIA ) shares fell 36% after it said late Thursday it is planning a public offering of its common shares and warrants. Cricut's ( CRCT ) stock dropped 23% after posting a slight loss the previous session. And Lululemon Athletica ( LULU ) shares were down 11%, a day after the company issued a lower-than-expected fiscal Q1 outlook.