US stock futures inched up as Wall Street's attention turned from an upbeat day marked by renewed AI fervor to the next tranche of critical economic data.
Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) rose roughly 0.1%.
The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) hit to fresh records on Wednesday. Oracle's (ORCL) latest earnings report boosted confidence that the AI rally has room to run and sent the company's stock soaring. Moreover, a reading on wholesale inflation came in cooler than expected, leaving bets the Federal Reserve will cut rates at its next meeting undisturbed.
The final data point on inflation that is set to land before the Fed's September 19th meeting arrives Thursday. August's Consumer Price Index (CPI), due at 8:30 a.m. ET, is expected to show inflation remained sticky last month, with headline prices rising. Investors will be vigilant for indications President Trump's tariffs are impacting prices.
The CPI reading, however, is not expected to pack enough punch to dissuade the Fed from cutting rates in light of a significant slowdown in the labor market. Markets are pricing in a 92% chance of a 25 basis point cut at the Fed's meeting, according to the CME FedWatch tool, and an 8% chance of a larger half-point reduction.
The US Department of Labor's Thursday release of weekly jobless claims will consequently be of more interest than usual to Wall Street.
Finally, Kroger (KR) and Adobe (ADBE) will report their results Thursday.
Read more: The latest on Trump's tariffs
Coming soon
Stock market coverage for Thursday, September 11, 2025.
