US stock futures rise on easing inflation and earnings watch
Cooling consumer inflation data has tempered bets on a September rate hike, while oil prices fall amid shifting geopolitical strategies in the Strait of Hormuz.
US stock futures advanced on Thursday morning following a Consumer Price Index report that revealed easing inflation in July. Futures on the Dow Jones Industrial Average climbed 0.3 per cent, while S&P 500 contracts added 0.2 per cent and Nasdaq-100 contracts rose 0.1 per cent. The gains followed a relatively calm session on Wall Street as markets digested the latest inflation figures.
The cooling CPI data has led traders to reduce their expectations for an interest rate hike in September. Despite this shift, market watchers still anticipate that the Federal Reserve will implement at least one rate increase by the end of the year. Investors are now turning their attention to the Producer Price Index, which tracks prices from the seller’s perspective, for further signals on inflation relief.
Corporate earnings remain a key focus for the session. Cisco and Cerebras reported better-than-expected quarterly results and outlooks, yet both stocks fell in extended trading. Applied Materials, a chipmaking equipment manufacturer that has seen its stock surge 190 per cent over the past year, is also scheduled to report results.
Oil prices declined as the Trump administration pivots from active military campaigns to economic pressure strategies. The administration has asserted that the United States retains total control over the Strait of Hormuz, disputing private data that indicates low shipping traffic in the region.
Additional economic data includes initial jobless claims, scheduled for release following last week’s weak jobs report. Retailers including Tapestry, Dillard’s, and Birkenstock are also reporting earnings, which could provide insight into how companies are managing tariff refunds.
