Stock futures steady as traders await August CPI after four-day slide

  • Stock futures held near flat Thursday night as traders awaited August’s CPI report.
  • WTI crude topped $100 per barrel, while the 10-year yield exceeded 4.95%.
  • The three major averages recorded their fourth consecutive losing session Thursday.

U.S. stock futures were little changed Thursday night as investors awaited August’s consumer price index (CPI), due Friday and expected to show a 0.4% monthly increase and 3.4% annual inflation. The major averages fell for a fourth consecutive session as West Texas Intermediate crude topped $100 a barrel, oil reached its highest settlement since May 19, and the 10-year Treasury yield climbed above 4.95%, its highest level since October 2023. August producer prices rose 0.4% monthly and 5.4% annually. The CPI reading will inform the Federal Reserve’s Sept. 16 interest-rate decision; Fed funds futures indicated a roughly 71% chance of a rate hike, while Natixis CIB Americas chief U.S. economist Christopher Hodge said a hotter-than-expected reading would support a hike next week.

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