S&P 500 futures were little changed on Thursday, following another day of record highs, as Wall Street awaited a key consumer inflation gauge.
Futures tied to the broad index rose just 0.2%, along with those linked to the Dow Jones Industrial Average .
Economists polled by Dow Jones are expecting the index to rise 0.3% on the month for an annual gain of 2.9%.
Thursday’s action follows a second straight finish at all-time closing highs for the S&P 500, fueled by Oracle ‘s monster rally.
Shares of the stock surged about 36% in the session, marking its best day since 1992 and adding $244 billion in market cap.
Thursday saw little movement in SandP 500 futures after yet another day of record highs as Wall Street awaited a crucial consumer inflation indicator.
Only 0.2 percent of futures linked to the broad index and 0.3 percent of futures linked to the Dow Jones Industrial Average and Nasdaq 100 increased.
8:30 a.m. is the deadline for the most recent consumer price index reading. m. ET. . According to a Dow Jones survey of economists, the index will increase by 0.3 percent this month, for a 2.9 percent annual gain. With volatile food and energy excluded, the so-called core CPI is expected to rise 0.3 percent from July and 3.1 percent annually.
This follows an unanticipated 0.1 percent monthly drop in the producer price index. On a 12-month basis, the PPI increased by 2 points to 6 percent.
Julien Lafargue, chief market strategist at Barclays Private Bank, stated that it is difficult to ignore the PPI’s signal. “Investors are likely to stick with their dovish outlook unless the CPI produces a sizable upside shock. “..”.
Action on Thursday comes after the S&P 500 finished at all-time closing highs for the second consecutive day, driven by Oracle’s incredible rally. Whereas the Dow dropped more than 200 points, the Nasdaq Composite ended just above its base.
Investors applauded Oracle’s projections for its cloud business growth. The stock’s market capitalization increased by $244 billion as its shares rose roughly 36% during the session, making it its best day since 1992.
