US stock futures inched up Wednesday as Wall Street digested a key signal on consumer prices that is set to help shape the near-term future of interest-rate policy. Futures tied to the S&P 500 and the tech-heavy Nasdaq were up around 0.2%. Those on the Dow Jones Industrial Average futures hovered near the flatline. The Consumer Price Index showed price increases held largely steady in July. Consumer prices rose 2.
Wall Street rallied Tuesday on the back of positive inflation data that could foreshadow a similar direction in consumer prices. The Producer Price Index, which measures wholesale inflation in the US economy, rose just 2.2% year-over-year in July, nearly in line with the Federal Reserve's 2% target. Together, the inflation signals could get the Fed closer to a rate cut.
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