US Stock Futures Rise Ahead of CPI Data and Earnings Reports from Oracle and Adobe
US stock futures rose on Friday as investors anticipated upcoming August consumer inflation data ahead of the Federal Reserve's interest-rate decision. The gains came after a fourth consecutive decline in the S&P 500 earlier that week, with Deutsche Bank analysts noting pressure from bond market weakness and rising Treasury yields approaching 5%. Analysts also highlighted concerns over higher oil prices and their potential impact on inflation. The focus remained on the upcoming release of US Consumer Price Index (CPI) data ahead of the Fed's policy meeting. Economists expect a monthly increase in CPI to 0.4%, with annual headline inflation expected at 3.4%. Core CPI is forecasted to rise slightly, while components feeding into the PCE price index showed faster-than-expected increases. Oracle and Adobe both reported strong earnings results ahead of their respective market open. Oracle raised its full-year profit guidance after exceeding revenue expectations and securing over $30 billion in AI cloud contracts. Adobe also beat estimates for Q3 adjusted EPS and provided positive Q4 revenue guidance.
Topics: CPI data Federal Reserve policy oil prices stock market Treasury yields