US pre-open: Futures cautiously higher ahead of PPI figures
By Iain Gilbert
Date: Thursday 14 Nov 2024
(Sharecast News) - Wall Street futures were cautiously higher ahead of the bell on Thursday as investors awaited another fresh inflation reading.
As of 1230 GMT, Dow Jones futures were up 0.23%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.11% and 0.07% firmer, respectively.
The Dow closed 47.21 points higher on Wednesday as market participants thumbed over last month's consumer price index as major averages continued to sit at record highs.
Following yesterday's CPI reading, which came in as expected, Thursday's primary focus will likely be October's producer price index at 1330 GMT, with economists expecting to see an uptick of 0.2% in inflation last month. Excluding volatile food and energy prices, analysts expect to see a 0.3% increase, up from 0.2% previously.
Elsewhere on the macro front, weekly jobless claims numbers will also be published at 1330 GMT, while Federal Reserve chairman Jerome Powell will deliver a speech in Dallas at 2000 GMT.
In the corporate space, Disney narrowly beat analysts estimates with its Q3 numbers, reporting revenues of $22.57bn and earnings per share of $1.14, while US fashion retailers Capri and Tapestry were also drawing an amount of investor attention after watchdog the Federal Trade Commission put the kibosh on the pair's proposed merger.
Reporting by Iain Gilbert at Sharecast.com
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