U.S. stock futures edged lower on Friday as investors grappled with ongoing tariff uncertainty and digested the release of a key inflation measure. Dow Jones Industrial Average futures slipped 31 points, or 0.07%. S&P 500 futures dipped 0.1%, and Nasdaq 100 futures traded 0.2% lower. The core personal consumption expenditures price index came out hotter-than-expected, rising 2.8% in February and increasing concerns about persistent inflation. The report comes after a losing session for the major averages. On Thursday, the 30-stock Dow fell about 155 points, or 0.4%. The S&P 500 slid 0.3%, while the Nasdaq Composite dropped 0.5%. Those moves took place after President Donald Trump announced a 25% tariff on “all cars that are not made in the United States,” the latest tariff development to roil the market. Investors — concerned that rising signs of weakening consumer sentiment are heightening the risk of a slowdown — are hoping April 2 will bring some much-needed clarity. “I don’t expect that market volatility is going to calm until we have more policy [certainty]. And a lot of us are looking to see if we get that next week,” New York Life Investments’ chief market strategist Lauren Goodwin said on CNBC on Thursday. “I’m not really seeing it. I anticipate that this volatility is here to stay with us.” As of Thursday’s close, Wall Street was headed for a second straight week of gains. The Dow is on track for a 0.8% advance week to date. The S&P 500 is up 0.5% for the period, while the Nasdaq Composite is on pace for a 0.1% gain. Treasury yields fell on Friday after new inflation data showed persistent price pressures. The yield on the benchmark 10-year Treasury note declined 6 basis points, trading at 4.303%. The 2-year Treasury yield fell 2 basis point to 3.971%. Asia-Pacific markets mostly fell on Friday as U.S. President Donald Trump’s tariff threats kept investors on edge. Japan’s Nikkei 225 lost 1.8% to end the day at 37,120.33, its lowest level in about two weeks, while the Topix fell 2.07% to 2,757.25. South Korea’s Kospi traded 1.89% lower to 2,557.98, while the small-cap Kosdaq dipped 1.94% to 693.76. Hong Kong’s Hang Seng Index slid 0.65% to close at 23,426.6 while mainland China’s CSI 300 dipped 0.44% to close at 3,915.17. Australia’s S&P/ASX 200 added 0.16% to close at 7,982 as Prime Minister Anthony Albanese announced a national election on May 3, kicking off a five-week campaign. Oil prices slipped on Friday after initially rising as the U.S. ramped up pressure on Venezuela and Iran. But worries over whether Washington’s tariff war could curb demand weighed on markets. Brent crude futures were last down 19 cents, or nearly 0.3%, at $73.84 a barrel. Prior to this, it had notched seven straight days of gains. U.S. West Texas Intermediate crude futures shed 15 cents, or 0.2%, to $69.77 a barrel. Both contracts have risen this week, and are are up around 7% since hitting multi-month lows in early March. Gold prices extended gains to scale a record peak on Friday amid escalating trade war fears following U.S. President Trump’s latest tariffs, while the spotlight was also on inflation data due later in the day. Spot gold climbed 0.7% to $3,077.79 an ounce after hitting an all-time high of $3,086.21 earlier. Prices were headed for a fourth straight week of gains. U.S. gold futures added 0.8% to $3,084.8, after touching a record peak at $3,124.4 earlier in the session.
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