US equity futures on Friday

Major futures indices cut losses the day before, suggesting a 0.4% decline by market opening.

Wall Street retreated on Thursday after news that US inflation jumped 7.5% in January, raising expectations that the Federal Reserve will have to act decisively to cool the economy by raising interest rates. You can read the news on US inflation on our website.

St Louis Federal Reserve President James B. Bullard has proposed a one percentage point rate hike by July.

The yield on 10-year Treasury bonds stood at 1.99% on Friday morning after it surpassed 2% on Thursday for the first time since August 2019.

Under Armour shares fell despite raising the outlook after a strong quarter as investors focused on a supply chain warning.

Zillow shares rose after the company reported a quarterly adjusted loss of 42 cents per share for the quarter ended December. This was better than the loss estimate of $1.15 per share.

Expedia shares rose after a better-than-expected earnings report.

The University of Michigan releases its preliminary consumer sentiment index for February at 10:00 a.m. ET. The Refinitiv estimate is 67.5, slightly higher than the final reading of 67.2 in January, which was the lowest in more than a decade.

In commodity trading, benchmark US crude added 61 cents to $90.49 a barrel in electronic trading on the New York Mercantile Exchange.