Stock Futures Rise Amid Key Inflation Data

Stock futures are firmly higher this morning, as investors unpack highly-anticipated inflation data. The personal consumption expenditures (PCE) price index rose 0.3% last month, marking the largest gain since April and putting the annual inflation rate at 2.6% -- still above the Federal Reserve's 2% target. The Core PCE rose a milder 0.2% in December, but the 12-month rate is still up at 2.8%. Futures on the Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) are up triple digits, the latter with help from Apple's (AAPL) upbeat earnings.  

Continue reading for more on today's market, including: .

• The best stock to own in February just hit record highs. 
• 2 blue-chip post-earnings performances. 
• Plus, ABBV rises after earnings; UPS downgraded; and DECK eyes sharp loss after record high. 

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 2.2 million call contracts and 1.1 million put contracts exchanged on Thursday. The single-session equity put/call ratio fell to 0.52 and the 21-day moving average stayed at 0.60.
2. AbbVie Inc (NYSE:ABBV) is up 4.5% premarket, after the pharmaceutical company posted a fourth-quarter earnings beat and positive full-year forecast. On the charts, the stock still hasn't recovered from its steep mid-November bear gap. Year-over-year, ABBV is up 6.8% heading into today. 
3. Following yesterday's announcement that United Parcel Service Inc's (NYSE:UPS) was cutting back Amazon (AMZN) deliveries, Baird today downgraded UPS to "hold" from "buy," with a price-target cut to $130 from $160. No fewer than nine other analysts have also handed out bear notes to the security. The stock is up 0.9% in electronic trading, however, after losing 14.1% last session.
4. Deckers Outdoor Corp (NYSE:DECK) is down 14.8% in electronic trading, after the company's disappointing revenue forecast. The retailer is brushing off record fiscal third-quarter revenue and an earnings beat, which came after strong demand for its Ugg and Hoka brands. Looking to pull back from last session's record highs, DECK is up 77.6% year-over-year. 
5. Key economic data due out next week. 

Flood of Economic Data Out of Tokyo

Asian markets delivered a mixed performance as investors digested a wave of economic data and Big Tech earnings. Japan’s Nikkei edged 0.2% higher, amid a flood of economic indicators; Tokyo’s consumer price index (CPI) data rose 2.5%, unemployment dipped to 2.4%, and retail sales posted a 3.7% gain in December, signaling resilience in consumer demand. Meanwhile, South Korea’s Kospi slipped 0.8%, reflecting broader market caution. Hong Kong and Chinese markets remained closed in observance of the Lunar New Year holiday.

European markets are trading higher, buoyed by strong earnings, economic data, and the impact of yesterday’s interest rate cut. Germany’s inflation held steady at 2.8% year-over-year in January before next month's election, helping lift the DAX 0.2% higher in afternoon trading. London’s FTSE 100 is up 0.4% at last glance, despite U.K. house prices rising just 0.1% in January – falling short of expectations. Meanwhile, France’s CAC 40 is also 0.4% higher at last check.