Traders work on the floor of the New York Stock Exchange (NYSE) in New York.
Brendan McDermid | Reuters
Stock futures rose Thursday as investors look ahead to inflation data and earnings that may provide insight into the future health of the economy.
Futures for the Dow Jones Industrial Average were up 147 points, or 0.5%, shortly after 4 a.m. ET. S&P 500 and Nasdaq 100 futures gained 0.5% and 0.3%, respectively.
The latest U.S. consumer price index data is slated for release at 8:30 a.m. ET. A Dow Jones’ consensus estimate shows the CPI rose 0.3% in September, up from 0.1% in August. That would bring inflation’s annual pace to 8.1% from 8.3%. Weekly jobless claims data will also be released Thursday morning.
Thursday’s CPI report will come a day after the government said the producer price index, another inflation gauge, rose more than expected.
On top of that, investors digested minutes from the September Federal Reserve meeting. The minutes showed the central bank expected to keep hiking interest rates until it sees receding inflation. But one comment made some think the Fed might instead slow the rate hikes, if not roll them back, if financial markets tumult continued.
“Fed speakers similarly have, since the last meeting, been wedded to the message that their commitment remains solid, even in the face of global financial fault lines showing signs of strain,” said Quincy Krosby, chief global strategist at LPL Financial.
Delta Air Lines, Walgreens and Domino’s Pizza will report earnings before the bell Thursday, coming as part of a week considered the start to a new corporate earnings season.
Read More: Stock futures rise as investors await inflation data