FX.co ★ US Futures Steady After Inflation Surprise

On Friday, U.S. stock futures remained stable following a subdued session in Wall Street, influenced by unexpectedly high wholesale inflation figures that dampened expectations for a significant rate cut by the Federal Reserve in September. On Thursday, the S&P 500 experienced a minor increase of 0.03%, while the Dow Jones Industrial Average slipped 0.02%, and the Nasdaq Composite declined by 0.01%. The Producer Price Index for July saw a significant rise of 0.9% compared to the previous month—marking the largest increase in three years—and jumped 3.3% on a year-over-year basis, surpassing the anticipated 0.2%. Despite this, market participants still estimated an 85% to 91% likelihood of a rate cut in September, yet the possibility of a 50-basis-point reduction diminished. In corporate developments, UnitedHealth shares surged by 10% during after-hours trading following disclosures that Warren Buffett’s Berkshire Hathaway and Michael Burry’s Scion Asset Management had acquired stakes in the healthcare company. Meanwhile, Intel's stock price rose by 4% amid reports that the Trump administration is considering an investment in the company on behalf of the U.S. government.