U.S. inventory futures pointed to an extension of positive factors as merchants seized on the extra benign components of a key inflation report.
What’s taking place
Futures on the Dow Jones Industrial Average
rose 190 factors, or 0.6%, to 34447
Futures on the S&P 500
rose 29 factors, or 0.7%, to 4384
Futures on the Nasdaq 100
gained 124 factors, or 0.8%, to 14888
On Wednesday, the Dow Jones Industrial Average
fell 1 level to 34378, whereas the S&P 500
elevated 13 factors, or 0.3%, to 4364, and the Nasdaq Composite
gained 106 factors, or 0.73%, to 14572.
What’s driving markets
Investors targeted on the extra benign components of Wednesday’s client value index report, which confirmed the core measure that excludes meals and power costs rising 0.2% in September, preserving the year-over-year progress price at 4%.
Prices on air fares, resorts and used vehicles had been among the many prices that declined. “While that outcome owed to some weak point in costs delicate to the virus – resembling airfares, resort expenses, automotive rental charges and attire – the yield on the 10-year U.S. Treasury
continued to descend from final week’s highs,” mentioned Emily Nicol, economist at Daiwa Capital Markets Europe.
More inflation information is due for launch Thursday with the producer value report, which together with the CPI information might present how a lot firms have needed to take up value rises as a substitute of cross them alongside to their prospects.
In China, producer costs surged 11% year-over-year in September, the quickest rise in additional than many years.
Earnings season continues with outcomes from a slate of banks — Bank of America
and Wells Fargo
Health insurer UnitedHealth
and pharmacy chain Walgreens Boots Alliance
are also scheduled to report outcomes.