Stock futures rose
early Friday.
Before the bell, the government's Consumer Price
Index rose 4.2% through the 12 months ended in May, according to the Labor
Department. This compared to an increase of 3.9% during the 12 months ended in
April. For the month of May, overall CPI
rose 0.6%, compared to an increase of 0.2% in April. A consensus of
analysts had projected an increase of 0.5% for May. The core CPI, which
excludes the cost of food and energy, rose 0.2% in May, compared to an increase
of 0.1% in April.
Companies to watch: Yahoo announced late Thursday an
online ad partnership with Google. Yahoo said it believes the ad deal would be
better than selling its search business to Microsoft.
Shares of Wall Street investment house Lehman
Brothers slipped Thursday after the brokerage announced a management shakeup in
the wake of a $2.8 billion loss disclosed earlier in the week.
Oil prices retreated. U.S. crude for July delivery fell
$1.16 to $135.59 a barrel.