U.S. stock futures were mixed on Thursday as market participants prepared for fresh inflation figures and digested a wave of corporate earnings. The cautious tone reflects ongoing uncertainty around economic indicators that could influence Federal Reserve policy.
At 4:37 p.m. (Bangkok Time), Dow Jones Industrial Average futures climbed 139 points, or 0.26%. S&P 500 contracts ticked up 0.13%, whereas Nasdaq-100 futures edged 0.05% lower.
Geopolitical factors saw some notable developments, following President Donald Trump’s remarks asserting U.S. control over the Strait of Hormuz. While the president stated that the passage remains open, actual ship traffic through this strategic corridor continues to be light. In a statement shared on X, the Persian Gulf Strait Authority disputed U.S. claims and reiterated that the passage remains restricted pending acceptance of Iran’s terms.
On the economic front, July’s consumer price index (CPI) rose by 0.1% on a monthly basis, aligning with forecasts. This subdued inflation reading prompted the S&P 500 to end a losing streak, closing higher after three consecutive declines. Softer inflation data has led investors to scale back expectations for a potential rate increase at the Federal Reserve’s upcoming September meeting.
According to CME Group data, the probability that the Fed will maintain its current interest rate stance next month now stands at 66%, up from 45% a week earlier. Market pricing for a pause in rate hikes throughout 2026 is also increasing. The next data release, the July producer-price index, is scheduled for 8:30 a.m. (Eastern Time).
Looking ahead, more insight into consumer behavior is expected Friday with the July retail sales report. Economists surveyed by Dow Jones anticipate only a 0.1% rise for the month.
