U.S. Stock Futures Climb Amid Predictable Inflation and Fed's Interest Rate Plans
U.S. stock index futures gained momentum after an inflation report indicated stable consumer prices, keeping the Federal Reserve's plans to cut interest rates unchanged. The CPI rose as anticipated, while unemployment claims exceeded forecasts. Stock futures for Dow, S&P 500, and Nasdaq climbed, reflecting market optimism.
U.S. stock index futures advanced on Thursday, driven by a Labor Department report indicating steady consumer prices that align with the Federal Reserve's anticipated interest rate cuts. The Consumer Price Index (CPI) registered a 2.9% annual increase in August, matching economists' expectations.
Excluding the volatile food and energy sectors, the core CPI also rose by 3.1% annually, consistent with predictions. Meanwhile, unemployment claims for the week ended September 6 surpassed estimates, totaling 263,000 applications compared to the forecasted 235,000.
By 8:32 a.m. ET, stock futures displayed positive movement, with Dow E-minis rising by 95 points, S&P 500 E-minis increasing by 17.5 points, and Nasdaq 100 E-minis climbing by 83 points, underscoring investor confidence.
(With inputs from agencies.)
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