Sumary of Stock futures poised for gains to end the week:
- Equity futures were trading higher the morning after the S&P 500 notched another record high despite a surge in consumer prices in May..
- The lone economic report to finish the week will be the University of Michigan’s preliminary index of consumer sentiment for June..
- On Thursday, Wall Street logged gains while bond yields mostly fell despite the much-anticipated report showing consumer prices rose 5% in May, the biggest year-over-year increase since 2008 and more than economists had expected..
- A significant share of May’s rise in consumer prices was tied to the sale of used cars, which is largely attributed to purchases by rental car companies beefing up their fleets as people return to traveling….