Wall Street stocks were set to open higher on Thursday, as there is growing confidence that the Federal Reserve will not raise interest rates at its next meeting following a modest increase in August inflation.
S&P 500 (^GSPC) futures rose by 0.4%, while Dow Jones Industrial Average (^DJI) futures increased by 0.3%, or approximately 100 points. Nasdaq 100 futures also saw a gain of around 0.5%, as tech investors eagerly awaited Arm’s IPO.
Despite high expectations, Wednesday’s consumer inflation report had little impact on the markets. Economists believe that the slight rise in prices last month will not be enough to prompt the Fed to change its course. According to data from the CME group, traders now see a 97% chance that policymakers will keep rates steady at their September 19-20 meeting.
More inflation data is expected on Thursday, including the August update on producer prices and retail sales, which will be released before the market opens. Additionally, there will be a report on jobless claims.
All eyes will also be on Arm’s debut on the Nasdaq on Thursday, following…
2023-09-14 06:20:51
Original from finance.yahoo.com
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