Stock futures rose on Thursday as investors looked to inflation and earnings data that may provide insight into the health of the economy going forward.
Dow Jones Industrial Average futures rose 147 points, or 0.5%, shortly after 4 a.m. ET. S&P 500 and Nasdaq 100 futures rose 0.5% and 0.3%, respectively.
The latest US CPI data is due at 8:30 AM ET. Shows Dow Jones consensus estimate CPI rose 0.3% in September, up from 0.1% in August. This will bring the annual inflation pace to 8.1% from 8.3%. Weekly jobless claims data will also be released Thursday morning.
Thursday’s CPI report comes a day after the government announced that the Producer Price Index, another inflation gauge, rose more than expected.
Moreover, investors absorbed the minutes of the Federal Reserve’s September meeting. Minutes showed The central bank expected to continue raising interest rates until it sees the decline in inflation. But one comment made some believe that the Fed may instead slow, if not reverse, rate hikes if the turmoil in financial markets continues.
“Fed speakers have similarly, since the last meeting, connected with the message that their commitment remains strong, even in the face of global financial fault lines that are showing signs of tension,” said Quincy Crosby, chief global strategist at LPL Financial.
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