United States equity futures traded mixed on Thursday night (Friday AEST) as traders looked ahead to August's consumer price index report.
By 10:15 am AEST (12:15 am GMT), Dow futures and S&P 500 futures had each ticked up 0.1%, while Nasdaq 100 futures eased 0.1%.
During the regular trading session, the Dow Jones Industrial Average declined 0.6%, the S&P 500 fell 0.6%, and the Nasdaq declined 0.7%, marking the fourth straight losing day for all three major averages.
Risk sentiment continued to sour as both U.S. oil and international Brent crude futures posted their highest settlement prices since 19 May, as the conflict between the U.S. and Iran continued into its seventh month.
Rates surged alongside oil prices, with the 10-year Treasury yield topping 4.95% and reaching its highest level since October 2023.
Traders also weighed August's producer price index (PPI), a gauge of wholesale inflation, on Thursday. The metric rose 0.4% on the month and advanced 5.4% on an annual basis.
All eyes are now on the consumer price index reading for August, due Friday.
Markets are expecting a 0.4% increase on a monthly basis and an annual rate of 3.4%.
The report will be a key factor in the Federal Reserve's upcoming interest rate decision.
Fed funds futures trading suggests a roughly 71.3% likelihood of a rate hike, according to the CME Group FedWatch Tool.
