Stock market today: futures edge up ahead of key inflation revision data

• US stock futures edged up ahead of Friday's opening bell.
• The S&P 500 was on pace to pass 5,000 points for the first time after a strong start to 2024.
• Investors will be eyeing inflation revision data, set to be released at 8.30 a.m. ET.

US stocks are set to edge up at Friday's opening bell as investors waited on annual inflation revision data.

S&P 500 futures were up 0.1% shortly after 6 a.m. ET, putting the benchmark index on track to pass 5,000 points after hitting another record closing high Thursday. Nasdaq futures climbed 0.2%, while Dow Jones Industrial Average futures traded flat.

Meanwhile, yields on 10-year US Treasury notes treaded water and the US Dollar Index, which measures the greenback's strength against six other currencies, was up 0.1%.

The Bureau of Labor Statistics is set to release its annual revisions to the consumer price index inflation gauge at 8.30 a.m. ET. The market saw last year's update as a sign the Federal Reserve would need to keep raising interest rates to clamp down on soaring prices.

PepsiCo is among the companies that are set to report their earnings for the final three months of 2023.

"A slim earnings and economic calendar today, with US CPI revisions the main focus," Saxo Bank strategists said.