U.S. stock futures were mixed on Thursday, as the Nasdaq 100 index fell and the Dow Jones and S&P 500 indices rose, following Wednesday's lower close.
On the economic front, July’s headline Producer Price Index (PPI) remained unchanged month-over-month, while core PPI—excluding foods, energy, and trade services—rose 0.4%. Meanwhile, initial jobless claims for the week ending Aug. 8 increased by 9,000 to 209,000, indicating continued labor market resilience.
After the Consumer Price Index (CPI) rose 3.4% year-over-year in July, down from June’s 3.5% increase, in line with expectations, investors will review July’s PPI and ex-food & energy PPI data, set to be released before the opening bell.
The U.S. and Iran made no progress on reviving their interim peace agreement, leaving the Strait of Hormuz heavily disrupted amid fresh attacks on commercial shipping, according to Reuters. Geopolitical tensions remain elevated as President Donald Trump took to social media, declaring that “Iran is all talk and no action, the Bully of the Middle East No Longer.”
Meanwhile, the 10-year Treasury bond yielded 4.67%, and the two-year bond was at 4.17%. The CME Group’s FedWatch tool projections show markets pricing a 36.1% likelihood of the Federal Reserve hiking the current interest rates during its September meeting.
The SPDR S&P 500 ETF Trust (NYSE: SPY) and Invesco QQQ Trust ETF(NASDAQ: QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Thursday. The SPY was up 0.16% at $773.74, while the QQQ declined by 0.018% to $723.57.
-----------------------------------------------------------------------------------
📚Check out our Substack!
https://substack.com/@benzinga
🌐 Find more market-moving insights at https://www.benzinga.com — your one-stop destination for the latest financial news, data, and expert analysis to stay ahead of the markets.
🖥️ Want the same tools the pros use—without the $10K Bloomberg terminal? Benzinga Edge gives you real-time portfolio alerts, weekly stock picks, and pro-grade research in one command center.
👉 https://bit.ly/4unSKiB
------------------------------------------------------------------------------------
🔔 Subscribe To The Channel: https://www.youtube.com/@Benzinga
📲 Follow us on socials: @Benzinga
------------------------------------------------------------------------------------
⚠️ Disclaimer:
Investing in financial markets carries risk, and there are no guaranteed returns. All information is for educational purposes only and should not be taken as financial advice. Always do your own research and speak with a qualified financial advisor before making investment decisions. Only invest what you can afford to lose. Past performance does not guarantee future outcomes.