US Futures Steady Ahead of CPI Report

US stock futures held steady on Thursday as investors braced for the latest inflation data and the commencement of the fourth quarter earnings season. In regular trading on Wednesday, the Dow rose 0.45%, the S&P 500 gained 0.57% and the Nasdaq Composite climbed 0.75%, with seven out of the 11 S&P sectors finishing higher led by communication services, technology and consumer discretionary. Notable gains were seen from mega-cap technology names such as Nvidia (2.3%), Microsoft (1.9%), Meta Platforms (3.7%), Amazon (1.6%) and Apple (0.6%). Meanwhile, energy stocks lagged behind the market on softer oil prices, with sector leaders Exxon Mobil and Chevron losing 1% and 0.8%, respectively. Markets expect the headline inflation to rise to 3.1% in December, while the core inflation rate is anticipated to fall to 3.8%, the lowest since May 2021.

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