U.S. stock futures held steady on Friday as investors prepared for the release of the latest PCE Price Index report, the Federal Reserve's preferred measure of inflation. The market is looking for confirmation that prices are trending downward so that the Fed might begin cutting interest rates in September. During regular trading on Thursday, the Dow rose 0.59% and closed at a record high, while the S&P 500 was unchanged, and the Nasdaq Composite lost 0.23%. Data released on Thursday showed that the U.S. economy grew by 3% in the second quarter, compared to an initial estimate of 2.8% and 1.4% in the first quarter.

On the corporate front, Nvidia shares fell by 6.4% as the revenue and profit figures of the AI chipmaker were worse than investors had hoped, raising concerns that the artificial intelligence boom may have peaked. Ulta Beauty shares dropped 7.2% amid weak quarterly results, while shares of Lululemon and Dell rose by 4.2% and 3.3%, respectively, on better-than-expected quarterly performance.