U.S. Futures Rise as Traders Await Inflation Data, Diesel Ban Report

U.S. stock futures edged higher Wednesday as investors awaited the August personal consumption expenditures price index, a key inflation gauge watched by Federal Reserve policymakers. Dow futures rose 247 points, or 0.5%, while S&P 500 futures gained 0.3% and Nasdaq 100 futures advanced 0.2%.

Economists surveyed for the report expect core PCE, which excludes food and fuel, to rise 0.3% from July. The overall index is forecast to increase 0.4%, compared with 0.2% for each measure in July. Annual inflation is projected at 3.3% for core PCE and 3.7% overall, both above the Fed’s 2% target.

New York Fed President John Williams said there was “no need for urgency” on another rate move, according to the report. Vital Knowledge analysts said his comments were seen by some as a signal the Fed could skip a rate increase in October.

Brent crude futures traded at $96.57, up 0.43% since the previous close, as of 08:42 UTC. The article cited hopes for a rebound in Saudi supply flows and said the White House was reportedly considering a diesel export ban.

Micron was due to report quarterly results after the market close. Analysts cited in the report said the figures could offer insight into demand for memory chips tied to AI.