U.S. Inflation Report Looms, Futures Down - InvestingChannel

U.S. Inflation Report Looms, Futures Down

U.S. stock futures slipped Thursday as investors looked ahead to the release of September’s consumer price index report.

Futures for the Dow Jones Industrials flopped 50 points, or 0.1%, to 42,766.

Futures for the S&P 500 lost 10 points, or 0.2% to 5,831.25.

Futures for the NASDAQ Composite Index dropped 44.25 points, or 0.2%, to 20,418.25.

Delta Air Lines shares were down more than 5% in the pre-market after the airline posted mixed quarterly results.

Shares of power generator builder Generac were down more than 2% in the premarket as Hurricane Milton batters Florida. The stock had been rising as the storm approached the state’s west coast. Week to date, it’s up 9%.

Insurance stocks Progressive, AIG and Travelers rose slightly.

September’s CPI report is due at 8:30 a.m. ET, with investors looking for further signs that inflation is on a cooling trend. Economists polled by Dow Jones anticipate a 0.1% increase on a monthly basis, and a 2.3% advance over the prior 12 months.

The result will also inform the Federal Reserve’s next steps on policy at its November meeting. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut,

Other economic releases due on Thursday morning include weekly initial jobless claims.

In Japan, the Nikkei 225 gained 0.3% Thursday, while in Hong Kong, the Hang Seng popped 3%.

Oil prices gathered 96 cents to $74.20 U.S. a barrel.

Gold prices took on $4.50 to $2,630.50

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