Investing.com -- U.S. stock futures point up heading into the final trading session of the week, with earnings from Google-owner Alphabet in focus. Investors are also gearing up for the release of a fresh indicator of U.S. inflation later in the day, which could play into the Federal Reserve's monetary policy deliberations.Stock futures in New York inched higher on Friday, as traders digested earnings from major technology companies and looked ahead to the release of key U.S. inflation data.
The nascent technology also bolstered Alphabet peer Microsoft's cloud division. The Seattle-based group, which grabbed an early stake in the AI gold rush through a $13 billion investment in ChatGPT-maker OpenAI, subsequently posted estimate-topping income and revenue as well, sending shares into the green after the closing bell.
Daily active users at its Snapchat app also increased to 422 million, above projections of 419.6 million. The so-called "core" PCE data, which strips out volatile items like food and fuel, is also anticipated to broadly equal February's monthly pace of 0.3%. Year-on-year, it is estimated at 2.6%, slowing from the previous mark of 2.8%.
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