U.S. stock futures pointed broadly higher on Friday, as investors looked ahead to the release of the Federal Reserve's preferred gauge of inflation that could impact how the central bank approaches possible interest rate reductions later this year.

By 03:34 ET (07:34 GMT), the Dow futures contract had edged up by 19 points or 0.1%, S&P 500 futures had inched up by 15 points or 0.3%, and Nasdaq 100 futures had gained 75 points or 0.4%.

The main averages on Wall Street ended trading on Thursday in positive territory, but advances were relatively muted as markets awaited the publication of May's personal consumption expenditures (PCE) price index (see below). The benchmark S&P 500 added 0.1%, the tech-heavy Nasdaq Composite rose by 0.3%, and the blue-chip Dow Jones Industrial Average increased by 0.1%.