1. U.S. stock futures rose Friday after the PCE price index, the Fed’s favorite inflation gauge, came in exactly as expected, rising 0.2% month over month and 2.5% year over year.
2. Dell‘s stock is up more than 4% in extended trading after the company’s beat and-raise quarterly earnings release Thursday. Dell reported $25 billion in revenue vs. analysts’ estimate of $24.14 billion, and adjusted earnings per share of $1.89 vs. $1.71 expected — driven by strong demand for AI servers. Dell has become a top seller of servers and systems for AI data centers, including those using Nvidia chips. Management also raised its full-year outlook. Morgan Stanley reiterated its $136 price target.
3. Shares of Marvell Technologyjumped more than 10% after management on Thursday guided to accelerating growth in the third quarter driven by strong AI demand that was ahead of analysts’ expectations. The chipmaker reported a sales beat and …