U.S. stock index futures edged lower on Friday, as investors exercised caution ahead of a crucial inflation report which could sway expectations on the size of upcoming interest rate cuts by the Federal Reserve.

A Commerce Department report, due at 8:30 a.m. ET, is expected to show the Personal Consumption Expenditure Index - the Fed's preferred inflation gauge - rose by 2.3% in August, according to economists polled by Reuters, down from 2.5% the month before.

Market Snapshot

At 07:50 a.m. ET, Dow E-minis were down 1 points, or 0.00% , S&P 500 E-minis were down 3 points, or 0.05% and Nasdaq 100 E-minis were down 27 points, or 0.13%.

Pre-Market Movers

Chinese ADRs - Chinese ADRs gained again in premarket trading. China cut the amount of cash banks must keep in reserve Friday and lowered a key policy rate, as Beijing rolls out a strong stimulus package unveiled this week in a push to shore up the slowing economy and investor confidence. NIO and iQiyi rose 3%; XPeng rose 4%; Trip.com rose 5%; JD.com and NetEase rose 2%.

Super Micro Computer - Super Micro's shares dropped another 1.7% in premarket trading after sinking 12.2% yesterday. The U.S. Department of Justice is investigating Super Micro Computer, the Wall Street Journal reported on Thursday, nearly a month after short-seller Hindenburg Research alleged "accounting manipulation" at the AI server maker.

Costco - Costco Wholesale reported fiscal fourth-quarter earnings of $5.29 a share, topping Wall Street estimates of $5.08, but the stock was falling 1% in premarket trading after revenue of $79.7 billion slightly missed estimates of $79.9 billion. Same-store sales rose 5.4% in the period, below expectations for an increase of 5.7%.

Bristol-Myers Squibb - Bristol Myers Squibb was rising 3.7% in premarket trading after theFood and Drug Administration approved Cobenfy, an oral medication for the treatment of schizophrenia in adults. People will be able to get thepill, taken twice a day, as soon as next month, Bristol Myers Chief Commercial Officer Adam Lenkowsky told the Journal.

Cassava Sciences - Cassava Sciences was falling 11.8% after the pharmaceutical company companyreached a settlementwith U.S. securities regulators after it and two former executives were charged for “misleading claims” about an Alzheimer’s clinical trial. Founder and former CEO Remi Barbier, former senior vice president of neuroscience Dr. Lindsay Burns, and the company will pay more than $40 million to settle the charges.

BlackBerry - BlackBerry posted a fiscal second-quarter loss that narrowed from a year earlier as revenue rose 10% to $145 million, beating analysts’ estimates of $140.3 million. The security-software company raised its guidance for the fiscal year. BlackBerry shares fell 1.2%.

Trump Media & Technology - Shares of Trump Media & Technology Group were down 0.6%. Andrew Litinsky, a former contestant on “The Apprentice” and co-founder of Trump Media,has cashed out most of his stake, according to a regulatory filing. Litinsky’s United Atlantic Ventures reported holding just 100 shares of Trump Media, the parent company of former President Donald Trump’s social media platform Truth Social, as of Thursday, down from the 7.525 million shares United Atlantic received when Trump’s company merged with a blank check company earlier this year.

Boeing - Boeing and its largest unionwill resume contract negotiationson Friday. Workers represented by the International Association of Machinists and Aerospace Workerswalked off the jobat the aerospace giant on Sept. 13 after rejecting a tentative agreement by an overwhelming majority. Shares rose 0.4%.

Wynn - Wynn Resorts rose 2.9% as Morgan Stanley analysts upgraded the casino stock to Overweight from Equal Weight and increased their price target to $104 from $97.

HP Inc - HP Inc. was downgraded to Neutral from Buy at BofA Securities with a $37 price target. Shares of the personal-computer and printer company declined 1.6%.

Market News

China Cuts Key Rate, Frees Up Cash for Banks to Spur Growth

China cut the amount of cash banks must keep in reserve Friday and lowered a key policy rate, as Beijing rolls out a strong stimulus package unveiled this week in a push to shore up the slowing economy and investor confidence.

The People’s Bank of China’s 0.5 percentage point reduction to the reserve requirement ratio was announced earlier this week by central bank chief Pan Gongsheng, who didn’t provide a timeframe.

The cut is aimed at creating a “good monetary and financial environment” for the steady growth of the Chinese economy, the PBOC said in a statement.

The central bank also trimmed seven-day reverse repurchase rate to 1.5% from 1.7% on Friday, authorities said in a separate statement, confirming the timing for another move already revealed by Pan.

Intel and US Race to Finalise $8.5bn in Chips Funding by Year's End

Intel and the US government are on track to finalise $8.5bn in direct funding for the chipmaker before the end of the year, even as the company tries to stabilise its ailing business, said people familiar with the discussions.

The two sides are racing to conclude months of complex and technical negotiations while Intel executes drastic cost-cutting measures. Its recent troubles have attracted attention: rival chip company Qualcomm has explored buying a stake in Intel, and there is the prospect that others could make an approach.

Finalising the support package would amount to a vote of confidence in Intel from the US government even as the company pauses a major spending project in Germany to help address financial difficulties.