Futures trading in the U.S. stock market pointed to major benchmarks rising at the opening bell on Thursday, as investors weighed fresh data showing a gauge of inflation fell in June.
The E-Mini Dow Continuous Contract was up 0.5%, while the E-Mini S&P 500 Future Continuous Contract gained 0.7% and the technology-heavy E-Mini Nasdaq 100 Index Continuous Contract climbed a sharp 1.8%, according to FactSet data, at last check.
U.S. inflation measured by the personal consumption expenditures price index fell 0.1% in June for a year-over-year rate of 3.7%, as Wall Street expected. Core PCE inflation, which excludes food and energy prices, edged up 0.1% in June and rose 3.3% from a year ago, according to a report Thursday from the Bureau of Economic Analysis. The June rise in core inflation was slightly softer than forecast by economists polled by the Wall Street Journal.