U.S. stock futures are lower after another strong day on Wall Street as rate cut hopes gained steam, but inflation data and weekly jobless claims due before the bell could swing sentiment.
July’s producer price index, which measures the cost of goods and services that businesses pay each other, will be scrutinized for tariff effects. Businesses have either avoided tariffs by loading up on inventory before tariffs set in or have been eating most of the tariff costs. However, as time drags on, many economists say businesses will eventually have to start passing on more of the tariff costs or watch their profit margins erode.
Economists polled by Dow Jones are expecting July PPI to rise 0.2% from June.
Meanwhile, investors will closely look at weekly jobless claims for signs the labor market is cooling significantly. The monthly jobs report for July shocked investors when it not only showed weaker-than-expected new jobs in July but May and June numbers were also revised sharply lower.
At 6:05 a.m. ET, futures tied to the blue-chip Dow added 0.04%, while broad S&P 500 futures slipped -0.03% and tech-laden Nasdaq futures fell -0.09%.
Corporate news
Cisco barely topped estimates in the last three months of its fiscal year and offered guidance that again, barely beat forecasts.
Ibotta missed second-quarter forecasts and issued weak third-quarter guidance.
Coherent beat quarterly expectations and said it’s selling its aerospace and defense business to Advent for $400 million.
Cryptocurrency
Bitcoin climbed to a new record high above $124,000 as investors continued to pile in as digital assets become more mainstream.
Looser regulation and institutional interest has given digital assets a boost this year. The US GENIUS Act, which clears the way for mainstream adoption of stablecoins, and President Donald Trump has opened the door for crypto to be included in 401(k) plans.
Corporate treasuries also increasingly are exploring the integrating digital assets into their treasury management strategies.
Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@usatoday.com and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.
This article originally appeared on USA TODAY: US stock futures lower as investors await inflation, jobs data
