Stock Futures Rise Ahead of Inflation Data; Dow, S&P 500 Look to Snap 4-Session Skids

Stock futures pointed higher ahead of delayed Consumer Price Index data Thursday, with the blue-chip Dow Jones Industrial Average and benchmark S&P 500 aiming to end four-session losing streaks. 

Futures associated with the tech-heavy Nasdaq, S&P 500, and Dow were up 0.8%, 0.5%, and 0.2%, respectively. Yesterday, they closed down a respective 1.8%, 1.2%, and 0.5%, as AI bubble concerns resumed.

The belated inflation report at 8:30 a.m. ET is expected to show the Consumer Price Index rose 3.1% over the year in November, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. That would be up from 3% in September and mark the highest annual inflation since May 2024. Core inflation is expected to have risen 3% over the year, the same as September, by the median forecast.

In corporate news, shares of Broadcom (AVGO) and Oracle (ORCL), which ended down a respective 4.5% and 5.4% yesterday, were up more than 1% in premarket trading.

Also rebounding Thursday were shares of AI chipmakers Nvidia (NVDA) and Advanced Micro Devices (AMD), which finished down a respective 3.8% and 5.3% Wednesday but were up more than 1% before the bell.

Shares of memory chip maker Micron Technology (MU) soared more than 10% after the company posted earnings that blew past analysts’ estimates, driven by growing demand for AI hardware.

Tesla (TSLA) shares, which sank 4.6% yesterday after surging to an all-time high Tuesday, advanced about 1.5% in premarket trading.

Shares of Nike (NKE) and FedEx (FDX) rose 0.8% and 0.6%, respectively, ahead of their quarterly results after markets close today.

West Texas Intermediate futures, the U.S. crude oil benchmark, were up 0.3% to $56.10 a barrel. Gold futures slipped 0.3% to $4,360 an ounce but remain within striking distance of their all-time high of $4,398 set on Oct. 20.

The 10-year Treasury yield, which influences interest rates on a variety of commercial and consumer loans, ticked lower to 4.13% from Wednesday’s close around 4.16%. Bitcoin traded in a tight range around $87,100. The U.S. dollar index, which tracks the value of the greenback against a basket of foreign currencies, was 0.1% higher at 98.51.