Futures in New York rose on Thursday morning as markets await the release of the July Consumer Price Index (CPI) report, which is expected to heavily influence the Federal Reserve’s decision on whether or not to continue its interest rate hiking agenda.
S&P 500 futures rose by 0.5%, while those on the tech-heavy Nasdaq Composite Index gained 0.6%. Contracts listed on the Dow Jones Stock Exchange advanced by about 0.5% or 170 points.
Inflation has shown signs of cooling over the past few months on a number of fronts, with the release of the CPI report later on Thursday expected to give stocks an added boost.
Disney shares rose during premarket trading after the company revealed that it would be raising monthly prices for its ad-free membership plans. Alibaba also rose after the release of its latest quarterly results.