US stock futures tick up ahead of July CPI report
US stock futures ticked up on Wednesday, with everyone waiting to see what July's Consumer Price Index (CPI) report reveals about inflation.
The S&P 500 and Nasdaq-100 both saw decent gains before the market opened, while Dow Jones Industrial Average futures were also up 78 points, or 0.1%, in premarket trading.
This CPI report is a big deal since it could influence whether the Federal Reserve changes interest rates.
CoreWeave jumps 18% after strong earnings
Tech and cloud companies helped drive these early gains: CoreWeave shares jumped 18% after strong earnings, Super Micro Computer rose 9%, and Nebius Group climbed more than 8%.
Meanwhile, economists expect July's CPI to show a 3.4% annual rise (a bit lower than June), with core CPI (excluding food and energy) up by 0.2%.
Investors are also keeping an eye on upcoming earnings from big names like Cisco and Cerebras Systems.