U.S. stock futures traded higher on Thursday as investors looked ahead to the release of closely watched inflation data, which could influence the Federal Reserve’s next policy move. Meanwhile, the European Central Bank is widely expected to keep interest rates unchanged later in the day. On the earnings front, Adobe will be in focus when it reports after the closing bell.
Futures rise
By 03:10 ET (07:10 GMT), Dow futures added 35 points (0.1%), S&P 500 futures gained 8 points (0.1%), and Nasdaq 100 futures climbed 39 points (0.2%). Wall Street closed mixed on Wednesday, with Oracle soaring 36% after a strong earnings report, lifting the Nasdaq and S&P 500 to fresh records. The Dow, however, slipped 0.48%.
CPI in focus
Traders are awaiting August’s consumer price index, expected to rise 2.9% year-on-year, up from 2.7% in July. A hotter reading could heighten fears of stagflation, with high inflation, weak growth, and rising unemployment. Still, Fed officials have signaled they may prioritize easing labor market pressures, keeping a September rate cut firmly on the table.
ECB policy call
The ECB will also announce its rate decision on Thursday. Analysts expect no change, with the deposit rate likely held at 2%. However, internal debates remain, as recent inflation and growth data exceeded forecasts. Comments from ECB President Christine Lagarde will be closely monitored for policy guidance.
Adobe earnings
Adobe is set to report fiscal Q3 results after the bell. Analysts expect EPS of $5.18 on $5.91 billion in revenue. Despite raising guidance earlier this year, concerns persist over how quickly the company can capitalize on AI opportunities.
Oil and gold
Oil prices edged lower after a build in U.S. crude and gasoline inventories signaled weaker demand. Brent fell 0.1% to $67.40 a barrel, while WTI slipped 0.2% to $63.56.
Gold prices also dipped slightly ahead of CPI data but held near record highs on expectations that the Fed will cut rates next week. Lower borrowing costs typically support bullion by reducing its opportunity cost.
