India, Aug. 29 -- Stocks may move to the downside in early trading on Friday, giving back ground after trending higher over the past few sessions. The major index futures are currently pointing to a lower open for the markets, with the S&P 500 futures down by 0.3 percent.

Traders may look to cash in on the recent strength in the markets, which saw the S&P 500 reach new records despite some relatively choppy trading.

The futures remained in negative territory after the Commerce Department released a closely watched report showing consumer prices increased in line with estimates in the month of July.

The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent i...