07:13 AM EDT, 09/13/2024 (MT Newswires) -- US equity futures were pointing higher before Friday's open as traders parse the latest inflation data and its implications on the Federal Reserve's future monetary policy.

The S&P 500 and the Dow Jones Industrial Average rose 0.2% each in premarket activity, while the Nasdaq added 0.1%. Asian exchanges were mixed to lower while European bourses were tracking in the green.

Earlier in the week, government data showed that consumer inflation in the US increased as expected in August on a sequential basis, while the annual metric logged the smallest increase since February 2021. The Bureau of Labor Statistics on Thursday reported that producer prices grew more than expected last month, as wholesale services costs rebounded.

The Fed's monetary policy-setting committee is set to meet Sept. 17 with a decision on interest rates the following day. There is a roughly 55% chance the central bank will lower its benchmark lending rate by 25 basis points next week, with the remaining probability in favor of a more aggressive 50-basis-point reduction, according to the CME FedWatch tool.

On Friday's economic calendar, the import and export prices report for August posts at 8:30 am ET, followed by the preliminary University of Michigan consumer sentiment report for September at 10 am. The weekly Baker Hughes domestic oil-and-gas rig count is out at 1 pm.

Shares of Adobe (ADBE) dropped 8% pre-bell after the software maker issued a downbeat fiscal fourth-quarter sales outlook. Boeing ( BA ) declined nearly 4% as the plane maker's workers went on strike after rejecting a tentative labor deal that was agreed with the International Association of Machinists and Aerospace Workers union. RH (RH) jumped 20% as the home furnishing retailer logged better-than-expected fiscal second-quarter results.

Before the opening bell, bitcoin dipped less than 0.1% to $58,278, West Texas Intermediate crude oil gained 1.2% to $69.76 per barrel, yields on 10-year Treasuries retreated 3.1 basis points to 3.65% and gold moved 0.6% higher to $2,595 an ounce.