U.S. stock futures climb amid falling oil and inflation outlook
U.S. stock futures rose as oil prices declined and the market awaited August Consumer Price Index data, with the Dow Jones index gaining 299 points (0.6%), and the S&P 500 and Nasdaq 100 both up 0.6%. Oil prices fell sharply, with West Texas Intermediate and Brent dropping over 3%, yet both benchmarks are on track for weekly gains of around 8%. Economists expect inflation to rise by 0.4% month-over-month, which will influence the Federal Reserve's decision on whether to raise or hold interest rates at its upcoming meeting; the market implies a 71% chance of a rate hike. The week also saw the yield on the 10-year Treasury bonds reach levels not seen since October 2023, with attention focused on inflation data that will impact future monetary policy.
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