US stock futures were little changed on Thursday as investors awaited a series of key inflation reports that could influence the Federal Reserve’s next policy move. The August producer price index is scheduled for release Thursday, followed by the consumer price index on Friday. Also due today are weekly jobless claims and existing home sales data.
On the corporate front, earnings reports are expected from Oracle, Adobe, Copart, Macy’s, and Restoration Hardware.
In Wednesday’s regular session, the Dow Jones Industrial Average fell 0.77%, while the S&P 500 and the Nasdaq Composite declined 0.48% and 0.64%, respectively. The pullback came as oil prices continued to rise amid escalating tensions between the US and Iran, fueling inflation concerns and reinforcing expectations of near-term interest rate hikes. Treasury yields also moved higher after the Treasury Department announced plans to repurchase up to $6 billion in longer-term debt, a move that disappointed some investors who had anticipated a more aggressive buyback program.
