U.S. Stock Index Futures Steady Amid Inflation Report
U.S. stock index futures remained steady as a new inflation report aligned with expectations, hinting at potential interest rate cuts by the Federal Reserve. The Personal Consumption Expenditures Price index showed a monthly rise of 0.3% and a yearly increase of 2.6%. Unemployment claims were lower than anticipated.
U.S. stock index futures displayed minimal movement on Thursday following a recent inflation report that matched expectations, sparking hope for a possible reduction in interest rates by the Federal Reserve.
The Commerce Department's report indicated a 0.3% increase in the Personal Consumption Expenditures Price index for June, aligning with economists' predictions, and an annual rise of 2.6%, slightly above the estimated 2.5%.
Additionally, the number of initial unemployment claims filed by Americans for the week of July 26 was 218,000, below the expected 224,000. As of 8:33 a.m. ET, major stock futures indices indicated a slight rise, with S&P 500 E-minis up 57.25 points, Nasdaq 100 E-minis up 304.75 points, and Dow E-minis up 93 points.
(With inputs from agencies.)
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