Stock futures rose Friday as investors braced for an inflation report that is expected to show prices at their highest level in nearly 40 years.

Futures contracts tied to the Dow Jones Industrial Average rose 85 points, or 0.3%. S&P 500 futures rose 0.2% and Nasdaq 100 futures added 0.2%.

The moves came after the major averages ended the regular trading session lower, each snapping a three-day win streak. The Dow, moved less than a point lower, finishing at the flatline. The S&P 500 fell 0.7% and the tech-heavy Nasdaq Composite lost 1.7%. Nevertheless, all are on track to finish the week higher.

Markets expect a high inflation reading, which could lead the Federal Reserve to hasten the taper of its $120-billion monthly bond-buying program. Economists surveyed by Dow Jones expect a 0.7% gain for the month of November, which would translate to a year-over-year growth rate of 6.7%. If that is the case, it will mark the biggest move since June 1982.

Oracle shares soared, gaining more than 11% premarket, a day after beating earnings on the top and bottom lines.

Southwest Airlines dropped 2.5% in premarket trading following another downgrade on Wall Street, this time from Goldman Sachs. The industry has been deemed susceptible to inflation risk, and Alaska Air Group also was off Friday, falling 2.7%.

Interactive fitness company Peloton added to its woes, dropping 2.7% premarket after tumbling 11.3% on Thursday. Credit Suisse cut its view on the company, saying a return to gyms and shifts in consumer spending will weigh on profitability.

Jobless claims data released on Thursday showed the labor market recovery remains strong. The Labor Department reported initial claims for unemployment insurance totaled 184,000, below the 211,000 estimated by economists surveyed by Dow Jones and the lowest reading since 1969.

Trading was largely muted as investors await more data from the Labor Department, which will release the November consumer price index on Friday. It was the market’s second day of pause, following the two-day market rally earlier this week as they turned their attention to the economic data instead.

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The University of Michigan is also set to release consumer sentiment¬†data on Friday, which AXS Investments CEO Greg Bassuk said he’s also following closely as it appears at odds with inflation levels.

“Sentiment seems to be really at lows, yet consumer shopping and retail strength seems to be quite strong, so there’s a mismatch there,” he said. “We think the proof is really at the cash register. As long as we’re seeing strong consumer shopping, employers continuing to bring people back to work, bigger picture we remain much more bullish moving toward the end of the year.”



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