US stock futures steady as investors await August CPI report

  • US stock-index futures steadied ahead of August consumer inflation data.
  • Oracle added more than $30 billion in AI cloud contracts, lifting backlog to $664 billion.
  • Markets priced a 66.7% chance of a 25-basis-point Fed hike next week.

US stock-index futures steadied Thursday evening ahead of August consumer price index data due Friday, after the S&P 500, Nasdaq Composite and Dow Jones Industrial Average each fell for a fourth straight session. S&P 500 futures were at 7,600.75 points, Nasdaq 100 futures fell 0.09% to 29,108.25 and Dow futures were at 52,105.0. Markets are watching for signs of persistent inflation after a hot producer price report lifted expectations of a Federal Reserve rate increase next week. Investors were pricing a 66.7% chance of a 25-basis-point hike, up from 60.4% a day earlier. Headline CPI is expected at 3.4%, with core CPI forecast at 2.4%. Oracle rose 4.3% in after-hours trading after stronger quarterly earnings, more than $30 billion in additional AI cloud contracts and an increased fiscal 2027 adjusted earnings forecast. Adobe fell 2% despite strong results after its guidance disappointed investors.

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