The BEA’s personal income and spending report for August is expected to show a 2.7% year-over-year increase in the personal consumption expenditure (PCE) index, up from the 2.6% rate in July.

Traders work on the floor of the New York Stock Exchange (NYSE) on July 30, 2025 in New York City. (Photo by Spencer Platt/Getty Images)

Shanthi M·Stocktwits

Published Sep 26, 2025 | 4:30 AM GMT-04

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U.S. stocks aim to shake off the weakness seen over the past three sessions, with index futures indicating a nervous start. A key inflation gauge, which is released as part of the Bureau of Economic Analysis’ (BEA) personal income and spending report, could determine the day’s trading direction.

Reports regarding a new semiconductor tariff plan being mulled by the Trump administration could impact chip stocks. The TikTok executive order signed by President Donald Trump, roping in Oracle as a major investor, may have ramifications for the social media space.

As of 4:20 a.m. ET on Friday, the Dow, S&P 500, Nasdaq 100, and Russell 2000 futures all traded modestly higher.

On Thursday, the major averages declined yet again, as traders pared their rate cut bets following the release of a stronger-than-expected second-quarter GDP report and weekly jobless claims data that fell to a multi-month low.

The SPDR S&P 500 ETF (SPY), an exchange-traded fund (ETF) that tracks the S&P 500 Index, and the Invesco QQQ Trust (QQQ) fell 0.46% and 0.43%, respectively. The SPDR Dow Jones Industrial Average ETF Trust (DIA) and the Shares Russell 2000 ETF (IWM) retreated 0.34% and 0.96%, respectively.

On the economic front, the BEA’s personal income and spending report for August is expected to show a 2.7% year-over-year increase in the personal consumption expenditure (PCE) index, up from the 2.6% rate in July. The annual rate of the core PCE index is expected to remain unchanged at 2.9%.

Richmond Fed President Tom Barkin is scheduled to make a public appearance at 7:30 a.m. ET, followed by another public appearance at 9 a.m. ET. Fed Vice Chair for Supervision Michelle Bowman is due to speak at 1 p.m. ET.

The University of Michigan is scheduled to release its final consumer sentiment index for September at 10 a.m. ET, with economists on average expecting the index to be held unchanged at the preliminary level of 55.4, which marked a four-month low.

Crude and gold futures edged higher early Friday, and the 10-year U.S. Treasury note yield added to its Thursday’s gain. The U.S. dollar fell modestly against most major counterparts.

Most major Asian markets fell on Friday, tracking the weak cues from Wall Street overnight and also weighing in on the imminent U.S. inflation data. European stocks, however, have started on a strong note.

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