Stock futures were struggling for direction on Thursday, with Wall Street in wait-and-see mode ahead of an inflation print that could be key for determining the Federal Reserve’s rate-cutting path.
Futures tracking the Dow Jones Industrial Average climbed 35 points, or 0.1%. S&P 500 futures were less than 0.1% lower, and contracts tied to the tech-heavy Nasdaq 100 slipped 0.1%.
The three major indexes all closed in the green Wednesday after the ISM services report suggested an easing of inflation pressures, and private-payrolls data from the ADP signaled a softer-than-expected labor market. Both strengthen the case for the Fed to lower rates. Traders are now pricing in an 87% chance that the central bank will slash borrowing costs by a quarter of a point next Wednesday, up from 83% a week ago, according to the CME Fedwatch tool.
