US stock futures showed slight gains on Thursday night as investors braced for a pivotal inflation report that could influence the Federal Reserve’s next steps regarding monetary policy.
Futures for the Dow Jones Industrial Average saw a modest increase of 0.1%, while contracts for the S&P 500 and Nasdaq 100 rose by 0.2% and 0.3% respectively. The focus on Friday will be on the release of September’s inflation data, with expectations pointing toward persistently high price levels. Analysts predict the Consumer Price Index (CPI) to indicate inflation remaining close to a 3% annual rate. This report, scheduled for release at 8:30 a.m. ET, was delayed due to the ongoing government shutdown, which is now one of the longest in U.S. history.
This upcoming CPI report marks the first significant economic data release since the shutdown began, offering investors a crucial update on the economy and the potential to adjust forecasts regarding future interest rate cuts by the Fed.
In terms of market performance, stocks are on track to conclude the week positively. The S&P 500 has gained approximately 1.1% this week, while both the Nasdaq and Dow are showing around 1.2% increases.
Following Thursday’s market close, shares of Intel surged nearly 7% during extended trading after the semiconductor company reported third-quarter revenue that exceeded Wall Street’s expectations, igniting optimism across the sector. Intel’s head of investor relations, John Pitzer, expressed confidence about the company’s position in the artificial intelligence market, stating they are “well-positioned to play a more significant role in AI.”
Additionally, shares in Target experienced a slight uptick after the retail giant announced plans to reduce approximately 8% of its corporate workforce, marking its first major layoffs in a decade. These corporate developments reflect ongoing shifts in both the technology and retail sectors as companies navigate the current economic landscape.
