Futures rise as traders await inflation data, Fed cuts in focus

Futures rise as traders await inflation data, Fed cuts in focus

U.S. stock index futures rose slightly on Thursday as traders awaited key consumer price data at 8:30 a.m. ET, expected to show higher August inflation. Wednesday’s softer PPI report fueled bets on Fed rate cuts next week, with markets fully pricing in a 25-bps move and assigning a 10% chance of 50 bps.
Weak labor data reinforced easing expectations, while jobless claims numbers are also due today. The AI trade revived midweek, lifting chipmakers and utilities tied to data centers. Oracle gained 1.6% premarket, while gun stocks extended gains after news of a campus shooting. Despite September’s poor historical record, Wall Street has opened the month on a strong note, with strategists seeing Fed cuts as the key driver of market direction.