U.S. stock futures traded mixed early Wednesday as traders awaited the August Producer Price Index (PPI) report, due today, for greater clarity on the health of the U.S. economy. Futures on the Nasdaq 100 (NDX) and the S&P 500 (SPX) were up 0.18% and 0.24%, respectively, while those on the Dow Jones Industrial Average (DJIA) were down 0.13%, at 4:35 a.m. EST on September 10.
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During Tuesday’s regular trading session, the three major indexes closed in positive territory, hitting record highs, driven by a jump in shares of health insurer UnitedHealth (UNH) after it issued an upbeat update on its Medicare Star Ratings.
On the other hand, Apple’s (AAPL) stock fell 1.5% as investors seemed unimpressed with the iPhone maker’s latest lineup of products, which included the iPhone 17, iPhone 17 Pro, iPhone 17 Pro Max, and the first-ever iPhone Air, its thinnest iPhone to date.
After the markets closed, software giant Oracle (ORCL) provided a bullish outlook for cloud infrastructure revenue, pushing its shares higher despite missing both sales and earnings expectations for Q1.
On the economic front, traders will focus on today’s PPI figures, with experts predicting that both the headline and core PPI readings will show a monthly increase of 0.3%. Also, July’s Wholesale inventories are scheduled for release today.
Meanwhile, the U.S. 10-year Treasury yield was up, floating near 4.08%. WTI crude oil futures were trending higher, hovering near $63.10 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $3,685 per ounce on Wednesday.
Elsewhere, European stocks opened higher on September 10 as traders assessed positive earnings reports, developments in trade and tariff news, and regional inflation data.
Asia-Pacific Markets Traded Higher Today
Asia-Pacific markets traded higher on Wednesday as traders reacted to China’s larger-than-expected drop in August CPI data, while hopes for a potential Federal Reserve rate cut also provided support.
Hong Kong’s Hang Seng index gained 1.01%. In China, the Shanghai Composite rose 0.13%, and the Shenzhen Component added 0.06%. Meanwhile, Japan’s Nikkei advanced 0.87%, and the Topix climbed 0.60%.
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