US stocks climbed before the bell on Friday, poised to end a wobbly week on a high note as investors eager for a rate cut awaited a key reading of the Federal Reserve's preferred inflation gauge.

Dow Jones Industrial Average futures ( YM=F ) gained roughly 0.2%, holding onto the record close notched on Thursday , its third this week. S&P 500 futures ( ES=F ) popped about 0.4%, and contracts on the tech-heavy Nasdaq 100 ( NQ=F ) jumped 0.6%.

Stocks are taking an upbeat tone as the market steadies to end the month, with recession fears and the early August rout in the rear mirror, and a long awaited start to Fed easing just ahead.

Friday's focus is firmly on the reading on the Personal Consumption Expenditures index, watched for clues to the path of US interest rates this year. While Chair Jerome Powell has made it clear the Fed is ready to cut interest rates, any surprise could rattle the market.

Hopes that policymakers will cut rates by 0.5% in September have mounted as worries about the risk of recession faded, with Thursday's GDP revision the latest sign of strength in the economy . Any sign that inflation isn't cooling as wanted is seen as raising the odds of a smaller 0.25% reduction.

The PCE print is expected to show "core" inflation — which excludes food and energy prices — ticked up to 2.7% in July. The release is due at 8:30 a.m. ET on Friday.

Meanwhile, investors are moving on from the Nvidia ( NVDA ) earnings watch that held markets in thrall this week. The S&P 500 ( ^GSPC ) and Nasdaq Composite ( ^IXIC ) are on track for weekly losses after choppy trading action as techs struggled.

Chipmaker Intel ( INTC ) is considering splitting off its foundry and other options as the rival to Nvidia tries to stem losses. Its stock gained 3% in pre-market trading.

Elsewhere in tech, Dell ( DELL ) shares popped after the hardware maker lifted its annual profit and revenue forecasts , thanks to demand for its Nvidia-powered AI servers.