Stocks to open higher after inflation report

@CNNMoneyInvest March 16, 2012: 8:48 AM ET
premarkets

Click chart for more premarkets data.

NEW YORK (CNNMoney) -- Stocks were poised to open slightly higher Friday, as investors reacted to the latest reading on inflation, and continued to look for signs that the U.S. economy is on solid footing.

The Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures rose about 0.2% ahead of the opening bell. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.

In a monthly report issued before the opening bell, the government said that inflation increased 0.4% in February -- a number in line with expectations.

Investors will continue looking for more of the strong economic figures that have propelled shares higher this week.

Stocks finished higher Thursday, with the S&P 500 topping the 1,400 mark for the first time in nearly four years. The Dow logged its seventh straight day of gains and closed at its highest point since December 2007, while the Nasdaq closed at its highest level since November 2000.

March Stock Mania - Cast your vote!

World markets: European stocks moved higher in morning trading. Britain's FTSE 100 (UKX) and the DAX (DAX) in Germany rose 0.5%, while France's CAC 40 (CAC40) edged higher by 0.3%.

Asian markets ended mixed. The Shanghai Composite (SHCOMP) rose 1.3% and Japan's Nikkei (N225) ticked up 0.1%, while the Hang Seng (HSI) in Hong Kong shed 0.2%.

Economy: Inflation for February increased by 0.4% in February after rising 0.2% the previous month, according to the government's latest numbers.

Higher gasoline prices were the biggest factor in the rise, accounting for more than 80% of the index's increase. The report showed consumer prices were up 2.9% year-over-year.

Industrial production for February is expected to have increased by 0.5%, while the University of Michigan Consumer Sentiment Index for March is expected to stand at 75.8, up from 75.3 in February.

The case for stocks is getting stronger

Companies: Apple (AAPL, Fortune 500) is scheduled to release the new iPad Friday, and shares were up half a percent in premarket trading. On Thursday, Apple shares touched an all-time high above the $600 per share benchmark, but slipped into the red by afternoon.

Financial stocks were also on the move in premarket trading, with Bank of America (BAC, Fortune 500) up 1.5% while Morgan Stanley (MS, Fortune 500) was off by a little more than 1%.

Currencies and commodities: The dollar lost ground against the British pound, but rose versus the Japanese yen and the euro.

Oil for April delivery rose 56 cents to $105.67 a barrel.

Gold futures for April delivery fell $12.50 to $1,647.10 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 2.34% from 2.28% late Wednesday.  To top of page

Index Last Change % Change
Dow 17,804.80 26.65 0.15%
Nasdaq 4,765.38 16.98 0.36%
S&P 500 2,070.65 9.42 0.46%
Treasuries 2.18 -0.03 -1.27%
Data as of 6:01pm ET
Company Price Change % Change
Bank of America Corp... 17.62 0.09 0.51%
Apple Inc 111.78 -0.87 -0.77%
General Electric Co 25.62 0.48 1.91%
Intel Corp 36.37 -0.65 -1.76%
Microsoft Corp 47.66 0.14 0.29%
Data as of 4:04pm ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.12%4.00%
15 yr fixed3.14%3.00%
5/1 ARM3.25%3.01%
30 yr refi4.17%4.06%
15 yr refi3.21%3.09%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.