U.S. stock futures were little changed on Thursday evening after Wall Street’s main indexes notched fresh record highs, as Federal Reserve rate cut bets remained intact with investors weighing a stronger-than-expected inflation reading against signs of a cooling labor market.
S&P 500 Futures traded flat at 6,593.25 points, while Nasdaq 100 Futures were muted at 24,019.75 points by 20:10 ET (00:10 GMT). Dow Jones Futures were also steady at 46,144.0 points.
US stocks hit record highs after CPI, jobless claims data
During the regular session, the Dow, S&P 500, and Nasdaq all surged to record highs, driven by growing market confidence in an impending Federal Reserve rate cut.
The S&P 500 gained 0.9%, while the Dow Jones Industrial Average jumped 1.4%, surpassing 46,000 points for the first time. Tech-heavy NASDAQ Composite rose 0.7%.
Data on Thursday showed U.S. consumer prices rose 0.4% in August, slightly above expectations and the sharpest monthly increase since January.
That pushed the annual rate to 2.9%, the fastest in seven months, raising questions about how quickly inflation is easing toward the Fed’s 2% target.
At the same time, weekly jobless claims jumped to 263,000, the highest level since 2021, underscoring signs of softening in the labor market after last week’s weak nonfarm payrolls report.
The mixed signals did little to alter expectations that the Fed will cut interest rates at its Sept. 16-17 meeting.
Traders in futures markets are pricing in a near-certainty of a 25 basis point reduction, with slim odds of a larger half-point move.
“Inflation was a touch higher than expected and tariffs are likely to keep it elevated over coming months, but the the weakening of the jobs market is now the Fed’s priority, with rising jobless claims hinting at a pick-up in lay-offs at a time when hiring is subdued,” ING analysts said in a note.
Warner Bros shares surge on potential Paramount bid
Warner Bros Discovery (NASDAQ:WBD) shares surged nearly 30% on Thursday after the Wall Street Journal reported that Paramount Skydance Corp (NASDAQ:PSKY) is preparing a majority-cash bid for the company.
Adobe (NASDAQ:ADBE) stock rose more than 3% in extended trading after the software maker beat quarterly revenue and profit estimates, lifted by strong demand for its design tools and new AI features. The company also raised its annual sales and earnings forecasts.
Kroger (NYSE:KR) was largely flat after the U.S. grocery chain reported second-quarter results above expectations and lifted its full-year sales and profit outlook.
Centene Corp (NYSE:CNC) jumped over 10% after the health insurer reaffirmed its full-year earnings forecast.
Source :
https://www.investing.com/news/stock-market-news/us-stock-futures-steady-after-wall-st-hits-records-fed-cut-bets-intact-after-cpi-4236297
