Futures on the S&P 500 (SPX), Nasdaq 100 (NDX), and Dow Jones (DJIA) are set to open Thursday’s trading session in positive territory following August’s Consumer Price Index (CPI) report.
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Consumer prices grew by 0.4% month-over-month, above the estimate of 0.3% and rising from 0.2% in July. Core CPI, which excludes volatile food and energy items, rose by 0.3%, in line with the consensus estimate.
The data points haven’t derailed the odds of a rate cut at the upcoming Federal Open Market Committee (FOMC) meeting, where a 25 bps reduction is widely expected. The odds of a 50 bps rate cut rose to 9.2% compared to 8.9% yesterday, according to CME’s FedWatch tool.
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