The benchmark US stock measures were mostly pointing higher before the open Friday as investors await the latest retail sales report and digest fresh wholesale inflation data that pointed to easing price pressures.
The S&P 500 edged up 0.1% and the Nasdaq added 0.2% in premarket activity, while the Dow Jones Industrial Average decreased 0.1%. The indexes finished the previous trading session in the green, with the S&P 500 reaching an all-time intraday high.
The retail sales report for July is scheduled to be released at 8:30 am ET.
The report comes after official data on Thursday showed that producer prices held steady last month, defying expectations for a monthly rise, amid declining energy costs. Earlier in the week, the Bureau of Labor Statistics shared benign consumer inflation data for July that lowered bets for a Federal Reserve interest-rate increase next month.
"While prices are still rising and inflation remains well above the (Federal Open Market) Committee's 2% target, the slightly slower pace of increase underscores hope earlier pressures from a global energy shock are already easing," Stifel said in a report.
Markets are currently pricing in a 69% probability that the Fed will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.
Treasury yields were trending higher in premarket action, with the two-year rate rising 0.2 basis points to 4.14% and the 10-year rate gaining 1.2 basis points to 4.65%.
In an interview with Newsmax on Thursday, Treasury Secretary Scott Bessent said the US plans to apply economic measures on Iran that "have never been seen in the history of economic isolation on a country," according to multiple media outlets. Bessent said the US will continue its blockade of Iranian ports.
Defense Secretary Pete Hegseth reportedly said Thursday that the US military can keep the naval blockade on Iran going "indefinitely," according to CNBC.
West Texas Intermediate crude oil inclined 0.7% to $81.82 a barrel before the opening bell, while Brent nudged 0.2% higher to $87.27.
Shares of Applied Materials (AMAT) fell 5.6% pre-bell after the semiconductor-equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply. Reddit (RDDT) jumped 12%, with the social media platform set to join the S&P 500 on Tuesday.
Friday's economic calendar also has the preliminary University of Michigan's consumer sentiment report for August at 10 am, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm.
Gold slipped 0.3% to $4,405 per troy ounce, while bitcoin declined 0.9% to $62,785.
