The major index futures pointed up on Friday, potentially reacting to the outcome of the first presidential debate between the two presumptive 2024 candidates. Most experts view a victory for former President Donald Trump as a positive for the market, given his inclination toward deregulation and stance on taxation. In the interim, the market is left to contend with another earnings disappointment from a consumer stock. The rally also faces a key test as a key inflation measure – considered the Federal Reserve’s preferred gauge, is due out ahead of the market open. The market has factored in the annual rate of the measure to drop to its lowest level since March 2021. The S&P 500 and the Nasdaq Composite are on track to finish the month and quarter on an upbeat note, thanks to earnings momentum and slowing inflation. Futures Performance (+/-) Nasdaq 100 +0.42% S&P 500 +0.37% Dow +0.10% R2K +0.66% In premarket trading on Friday, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged down 0.05% at $545.25 and the Invesco QQQ ETF (NASDAQ:QQQ) fell 0.08% to $479.98, according to Benzinga Pro data.Cues From Last Session: Stocks went about in a lackluster manner on Thursday, as traders digested the revised first-quarter GDP report that showed slightly better growth than initially estimated and a slight upward revision to inflation metrics. Jobless claims for the recent reporting week fell, while durable goods orders ticked up. Stocks also reacted to disappointing earnings from a couple of consumer-facing companies and soft guidance from memory chipmaker Micron Technology, Inc. (NYSE:MU). The S&P 500 Index and the Nasdaq Composite closed higher for a third straight session and yet settled just ...