Dow futures edged 100 points higher on Thursday as Wall Street’s major indexes stayed close to record highs. Investors are growing more optimistic that inflation is easing and that the Federal Reserve could lower interest rates next week.
The S&P 500 and Nasdaq both moved up, helped by strong tech gains as Oracle’s rally and softer inflation data boosted confidence.
All eyes are on today’s inflation numbers, which could steer the Fed’s next steps.
For now, traders seem encouraged by the prospect of lower borrowing costs and continued tech sector strength, but are staying cautious ahead of fresh economic signals.
5 things to know before Wall Street opens
1. Today brings a high-stakes economic double-header: the August Consumer Price Index (CPI) and weekly jobless claims.
The CPI has Wall Street on edge, as investors hope for signs that inflation is continuing to cool from last year’s peaks.
Economists expect consumer prices to have risen about 2.9% year-over-year, a pace that could cement hopes for an interest rate pause or even a cut from the Fed down the road.
On top of that, jobless claims will offer a snapshot of the labor market’s health as always a big deal for predicting consumer spending power.
2. Pre-market trading is bustling with action this morning, revealing plenty of big stock swings.
Among the gainers, YY Group is rocketing over 120% on heavy volume, and Vince Holding is surging 95% after upbeat corporate updates.
AI-adjacent stocks like Treasure Global and Wearable Devices are also climbing sharply, helped by investor excitement around recent tech news.
On the flip side, several small-cap names as China Natural Resources, Robin Energy, and Intelligent Living are seeing steep declines, each falling more than 20% before the bell.
3. Chart watchers are noticing market indices trading at or near all-time highs, with the S&P 500 and Nasdaq recently closing at fresh records.
The major trend remains upward, but technical analysts flag a few caution zones. Historical data shows September can be a tricky month, often marked by choppiness even when longer-term momentum remains positive.
Many are watching for support just below these record levels; a stumble here might spark profit-taking.
4. Overnight, global markets traded mostly higher, drawing inspiration from Wall Street’s latest rally and upbeat inflation signals.
Asian shares got an extra push from tech leaders like Oracle, which soared on AI demand optimism, while Taiwan Semiconductor also popped after strong growth updates.
Weakness in some heavyweight names, such as Apple, was offset by broad enthusiasm for anything AI-related, echoing the sentiment seen in US tech.
5. Beyond the numbers, news of a tragic shooting involving a prominent activist in Utah has triggered reactions in certain sectors, most notably, a further rally in gun-related stocks.
On the corporate front, Oracle’s climb is driving chatter about large tech companies closing in on elite trillion-dollar market caps.
Investors are also eyeing several scheduled Fed speeches and Treasury auctions later today; unexpected commentary or auction outcomes could spark intraday volatility.
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