US Stock Market Move | October PPI came in below expectations; Nasdaq futures rose 0.40%; most star tech stocks gained in premarket trading.

On Friday, the three major U.S. stock index futures rose collectively, with Nasdaq futures up 0.40%. Most star tech stocks gained in premarket trading. NVIDIA Corporation (NVDA.US) rose over 2%, while Alphabet Inc. Class C (GOOGL.US), Amazon.com, Inc. (AMZN.US), Tesla, Inc. (TSLA.US), and Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) each rose over 1%. On the news front, the U.S. October Producer Price Index (PPI) rose 6.5% year-over-year, versus an estimate of 6.6% and a previous reading of 6.3%. On a month-over-month basis, it rose 0.3%, versus an estimate of 0.4%. U.S. October core PPI rose 5% year-over-year, in line with expectations of 5% and the previous reading of 5%; October core PPI rose 0.3% month-over-month, in line with expectations of 0.3%, with the previous reading revised to 0.8% from 0.7%. Following the release of the PPI report, traders lowered expectations for Federal Reserve tightening.