LIVE: Market Coverage: Friday November 12 Yahoo Finance

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Stock futures advanced Friday morning after a mixed session in the markets, with both earnings and inflation data remaining at the center of investor attention.

Contracts on the S&P 500 edged higher, and both the Dow and Nasdaq also headed toward higher opens. Shares of Dow component Johnson & Johnson (JNJ) gained after the company said it was planning to break up into two separate companies focused on consumer health products and pharmaceuticals, respectively, in a move echoing a similar breakup announcement by General Electric (GE) earlier this week.

As of Thursday’s close, the S&P 500 was on track to end the week marginally lower after five straight weeks of gains. However, it still held just slightly below all-time highs.

“We’ve got a market that is just incredible. No matter what it’s going up, and that shouldn’t be much a surprise given how much money has been pushed into the system,” Lenore Hawkins, Tematica Research chief macro strategist, told Yahoo Finance Live. “There’s just a lot of money chasing not a whole lot of alternatives.”

That said, a hotter-than-expected inflation print earlier this week was one key concern for investors, and reinforced that elevated price pressures were not as fleeting as many had initially expected during the recovery. Consumer prices rose at their fastest clip in 31 years in October, or by a marked 6.2% versus the same month last year, to accelerate from September’s already lofty 5.4% year-on-year rise.

The rise in prices carries implications both for corporations— many of which have had to try and pass on rising prices to end consumers to preserve margins — and for the Federal Reserve. Market pricing currently suggests the Federal Reserve will step in by mid-next year to raise interest rates to try and temper the broadening inflationary trends.

Still, many economists have reaffirmed that the inflationary pressures will eventually ease, albeit while likely settling at a higher level than had been present before the pandemic.

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