Stock Market Today: What to Watch

Factory output and consumer spending both improved in August in China and unemployment declined further. The Chinese central bank cut a short-term lending rate, in another move to support the country’s recovery.

Most U.S. stock futures inched up. Contracts linked to the S&P 500 and the Dow rose crept higher, while Nasdaq-100 futures were flat.

Global indexes mostly rose. The pan-continental Stoxx Europe 600 and Japan’s Nikkei 225 both climbed around 1%. Hong Kong’s Hang Seng also rose.

Oil kept gaining. The most actively traded contract for Brent crude edged above $94, on track for the highest close since November.

Treasury bonds held steady. The benchmark 10-year Treasury yield edged up slightly after closing Thursday at 4.289%.

European bonds fell. German and Italian 10-year yields rose—in a reversal of Thursday’s reaction to the European Central Bank’s interest-rate hike, according to Joost van Leenders, investment strategist at Van Lanschot Kempen.

Data watch: The Michigan consumer sentiment index for September is due out at 10 a.m. ET.