Stock market today: Live updates

U.S. stock futures ticked higher Thursday as investors looked toward new consumer inflation data for greater insight on the economy.

Futures tied to the Dow Jones Industrial Average added 141 points, or 0.4%. S&P 500 futures and Nasdaq 100 futures also gained 0.4% each.

The consumer price report for September will be released Thursday morning. Economists surveyed by Dow Jones are forecasting a 0.3% month-over-month increase for September and 3.6% rise from the prior year. Investors believe that the strength of inflation indicated in the report will play a key part in whether the Federal Reserve decides to maintain or raise interest rates at its two-day meeting beginning Oct. 31. 

The data comes following a stronger-than-expected producer price index for September.

“[August’s] CPI print was a bit stronger than we anticipated, though the downward trend in core inflation persisted. We would hope for that to continue, [but] will be keeping a close eye on the pass-through of higher energy prices into broader inflation in the months ahead should they persist,” said Vanguard senior economist Andrew Patterson. 

The ongoing Israel-Hamas war has raised questions of a potential oil supply crunch and a resulting rise in fuel prices if the geopolitical instability spreads to neighboring oil producers in the region.

Traders will also be keeping an eye out on jobless claims numbers for the week ending Oct. 7. Atlanta Fed president Raphael Bostic and Boston Fed president Susan Collins will be giving remarks Thursday afternoon, which could give Wall Street more insight into the central bank’s stance.

The major averages closed Wednesday trading with modest gains, marking a fourth consecutive winning session. The Dow advanced 0.2%, while the S&P 500 added 0.4%. The tech-heavy Nasdaq Composite climbed 0.7%, closing above its 50-day moving average for the first time since September.