Dow Futures Add 102 Points as Brent Falls 2% Before July PPI
Updated
Updated · CNBC · Aug 12
Dow Futures Add 102 Points as Brent Falls 2% Before July PPI
3 articles · Updated · CNBC · Aug 12
Summary
Dow futures rose 102 points, with S&P 500 futures up 0.2% and Nasdaq-100 futures 0.1% higher ahead of Thursday’s July producer price index report.
Brent crude fell 2% to $87.17 a barrel and WTI dropped 2.2% to $81.41 as traders weighed weakening oil demand despite the continuing U.S.-Iran war.
July PPI is due at 8:30 a.m. ET, with economists expecting a 0.2% monthly increase after Wednesday’s CPI rose 0.1% and matched forecasts.
That tame CPI reading helped the S&P 500 snap a three-session losing streak and led traders to trim expectations for a September rate hike, though October or December still look more likely.
Premarket earnings losers capped enthusiasm: Cerebras sank 17.4%, Cisco fell 5.9% and Coherent lost 5.1%, while Europe’s Stoxx 600 edged up 0.2% and Asian markets finished mixed.