Dows bid for 7th-straight winning session in play

U.S. stock futures were inching higher on Friday, with the Dow industrials poised to post the longest winning streak since late last year, as investors breathed a bit easier over inflation and dollars swift pace of gains slowed.

Investors will hear from a Federal Reserve official and get updates on import prices and consumer sentiment.

What are markets doing?

Dow Jones Industrial Average futures
YMM8, +0.21%
rose 42 points, or 0.2%, to 24,732, while S&P 500 futures
ESM8, +0.19%
inched up 3.8 points, or 0.1%, to 2,722.50. Nasdaq-100 futures
NQM8, +0.05%
turned higher, rising 1 point to 6,965.25.

On Thursday, the Dow industrials
DJIA, +0.80%
logged a sixth-straight positive session, the longest stretch in more than two months, rising 196.99 points, or 0.8%, to 24,739.53. A positive close Friday would make for the longest winning streak since the one that ended the week of Nov. 8, 2017.

The S&P 500
SPX, +0.94%
and Nasdaq Composite Index
COMP, +0.89%
each logged gains of 0.9% on Thursday. The tech-heavy index closed higher for a fifth straight session, its longest such streak since February.

For the week, stocks are poised to gain across the board. As of Thursday, the Dow was up 0.8%, the S&P 500 was up 2.2% and the Nasdaq was up 2.7%.

Read: Heres why the stock market has its swagger back for now

What is driving the markets?

Cooler U.S. consumer prices helped propel stocks Thursday, while lower bond yields and a weak dollar also lent a hand. Meanwhile, Wall Streets so-called fear gauge has been falling for the past five sessions, tapping its lowest level since late January.

On Friday, data on import prices for April are due at 8:30 a.m. Eastern Time, while the University of Michigans consumer sentiment index for May is expected at 10 a.m. Eastern.

St. Louis Fed President James Bullard is due to deliver a speech on economic and monetary policy to the Springfield Area Chamber of Commerce in Springfield, Mo., at 8:30 a.m. Eastern Time.

What are strategists saying?

The important question is whether investors will look to take some profits off the table at this time, allowing the greenback to retreat slightly, but more importantly whether they will treat any pullback as an opportunity to buy the dip. In simpler terms, does the slowdown in inflation seen yesterday kill the chances for the Fed moving toward more rate hikes this year? said Konstantinos Anthis, head of research at ADS Securities, in a note to clients.

What stocks are in focus?

The Trade Desk Inc.
TTD, +2.35%
was posed to climb, after a late-Thursday jump of 22% after the platform for managing digital-ad campaigns blew out earnings forecasts. It reported that streaming TV advertising surged nearly 2,000% over the year in the first quarter.

Read: CEO of Trade Desk sees rapidly increased spending on connected TV ads

Shares of Nvidia Corp.
NVDA, +1.70%
could come under pressure after the chip makers shares fell in late trade, even after the company reported results and an outlook that topped Wall Streets view.

Read: Nvidia made more from crypto mining than AMD, but expects a bigger drop

And: Nvidia CEO says self-driving pause, Tesla Model 3 issues didnt affect auto business

Dropbox Inc.
DBX, +1.91%
shares could extend late-Thursday losses after the cloud-storage company beat earnings and sales forecasts, but results werent as blowout as Wall Street would have liked.

Plus: Red-hot chip stocks are actually getting cheaper as their prices rise

Shares of PPG Industries Inc.
PPG, -0.88%
could extend a 3% late-session loss after the paint maker fired its controller and reassigned employees as it said it found additional accounting errors worth millions.

Apple Inc.
AAPL, +1.43%
and Goldman Sachs Group Inc.
GS, +0.71%
could be in focus after a report in The Wall Street Journal are preparing to launch a new joint credit card.

Drug stocks could be active ahead after the administration of President Donald Trump is expected to make a speech on drug prices on Friday.

What are other markets doing?

Asian markets finished the week mostly higher, except for a 0.3% drop for the Shanghai Composite Index
SHCOMP, -0.35%
while European stocks
SXXP, -0.06%
were pushing toward a seventh-straight weekly win.

Oil futures were pulling back from, with West Texas Intermediate crude
CLM8, +0.22%
down 0.3% to $71.18 a barrel, but still poised to gain 2% for the week.

Read: Oil and the dollar are doing something they have only done 11 times in the past 35 years

The dollar
DXY, -0.19%
was largely flat against major currencies, while gold
GCM8, +0.20%
inched lower.

Related Topics U.S. Stocks Markets NY Stock Exchange NASDAQ

Quote References YMM8 +52.00 +0.21% ESM8 +5.25 +0.19% NQM8 +3.75 +0.05% DJIA +196.99 +0.80% SPX +25.28 +0.94% COMP +65.07 +0.89% TTD +1.21 +2.35% NVDA +4.35 +1.70% DBX +0.60 +1.91% PPG -0.94 -0.88% AAPL +2.68 +1.43% GS +1.71 +0.71% SHCOMP -11.15 -0.35% SXXP -0.23 -0.06% CLM8 +0.16 +0.22% DXY -0.18 -0.19% GCM8 +2.60 +0.20% Show all references
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Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

Barbara Kollmeyer

Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

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E-Mini Dow Jun 2018 U.S.: CBOT: YMM8 $24,744.00 +52.00 (+0.21%)

Volume 20507
Open $24,677
High $24,746
Low $24,675
P/E Ratio 0
Div Yield 0
Market Cap N/A

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