U.S. stock futures remained relatively flat on Thursday morning as investors were cautious ahead of September’s consumer inflation report. Futures on the S&P 500 (SPX), the Dow Jones Industrial Average (DJIA), and the Nasdaq 100 (NDX) were down by about 0.15%, 0.09%, and 0.17%, respectively, at 3:36 a.m. EST, October 10.
In Wednesday’s regular trading session, the broader market continued its upward trajectory. The S&P 500 and the Dow Jones gained 0.7% and 1%, respectively, and closed at new all-time highs. Further, the Nasdaq Composite was up 0.6%.
The mega-cap tech stocks, including Apple (AAPL), Amazon (AMZN), and Broadcom (AVGO), supported the rally. However, Alphabet (GOOGL) declined 1.6% after facing potential antitrust scrutiny from the U.S. Department of Justice.
Today, investors are looking forward to the release of September’s Consumer Price Index (CPI) report. This key economic indicator will provide valuable insights into the current state of the economy and shape expectations for future interest rate changes. Currently, economists anticipate a 0.1% monthly increase and a 2.3% rise on a year-over-year basis. Also, Initial Jobless Claims for the previous week will be made public today.
On the earnings front, Delta Air Lines (DAL), Domino’s Pizza (DPZ), and Tilray (TLRY) are set to report their quarterly numbers before the market opens today.
Meanwhile, the U.S. 10-year treasury yield was down slightly at the time of writing, floating near 4.073%. At the same time, WTI crude oil futures trended lower, hovering near $73.57 per barrel as of the last check.
Elsewhere, European markets opened slightly higher today as investors awaited the release of key U.S. inflation data.
Asia-Pacific Markets Traded Higher on Thursday
Most of the Asia-Pacific indices were in the green today as investors looked forward to the U.S. CPI data for clues about the Fed’s next interest rate decision.
At the time of writing, Hong Kong’s Hang Seng index was up 2.86%. Moreover, Japan’s Nikkei 225 and Topix indices finished higher by 0.26% and 0.2%, respectively. Further, China’s Shanghai Composite index gained 1.32%, but the Shenzhen Component index declined by 0.82%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
