PT Solid Gold Berjangka | U.S. Stock Futures Climb As Wall Street Eyes Another Inflation Report
U.S. stock futures climbed Thursday morning as traders prepared for the August producer price index, a measure of wholesale inflation.
Futures tied to the Dow Jones Industrial Average added 47 points or 0.15%. S&P 500 futures ticked up 0.23%, while Nasdaq 100 futures inched 0.38% higher.
During Wednesday’s regular trading, the 30-stock Dow stumbled for a second consecutive day, dropping 0.2%, dragged down by 3M. The Nasdaq Composite closed higher by nearly 0.3%, while the S&P 500 added 0.1%.
The August reading of the consumer price index was a key event for traders. The core CPI, which excludes food and energy, gained 0.3% from the prior month and 4.3% from 12 months earlier. That compares against estimates of 0.2% and 4.3%, respectively, according to economists polled by Dow Jones. Headline inflation, meanwhile, increased 0.6% on a monthly basis and 3.7% from the prior year, while economists had called for 0.6% and 3.6%.
The August CPI reading isn’t expected to change the Federal Reserve’s course at its policy meeting beginning Sept. 19. Fed funds futures pricing data from Wednesday shows a 97% likelihood of rates remaining unchanged next week, according to the CME FedWatch Tool.
Source : CNBC
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