FX.co ★ US Futures Edge Higher on Earnings, Soft PPI

U.S. stock futures showed a slight upward movement on Wednesday, as S&P 500 futures inched up by 0.2%, the Nasdaq 100 increased by 0.1%, and Dow Jones futures climbed nearly 180 points. This positive trajectory was largely attributed to a Producer Price Index (PPI) report that was softer than anticipated. Contrary to predictions of a slight hike, producer prices in the U.S. remained stable in June, mainly due to a reduction in service costs. This data reinforced market expectations for potential interest rate cuts by the Federal Reserve later in the year. Investors also shifted their focus to the latest wave of corporate earnings reports. Bank of America shares saw a nearly 1% rise in pre-market trading following the release of earnings results that surpassed expectations, despite revenue falling short of forecasts. Goldman Sachs experienced a 0.9% increase after reporting a significant profit rise, while Morgan Stanley dipped by 0.4%, despite delivering stronger-than-anticipated second-quarter figures. Additionally, Johnson & Johnson saw a 2% rise after exceeding earnings projections and upping its full-year forecast.