Stock Futures Edge Higher Ahead of CPI Inflation Data

U.S. stock futures edged higher on Thursday ahead of the release of key inflation data that could advance—or disrupt—expectations that the Federal Reserve will soon begin cutting interest rates from a generational peak. After the S&P 500 finished at its highest level in more than two years, futures tracking that index rose another 0.2% on Thursday, with contracts tracking the tech-heavy Nasdaq up 0.4%. Stocks surged into 2024 amid expectations that waning inflation and slowing growth would push the Fed to cut rates—boosting equities, which have been under pressure since the Fed began ramping up borrowing costs in 2022 amid decades-high inflation.