Stock futures were up Wednesday as investors awaited July's inflation
data ahead of the Federal Reserve's meeting in September.
Blockbuster results yesterday from CoreWeave and Super Micro Computer were fueling some of the optimism and rekindling enthusiasm for the AI trade, with Nasdaq futures rising 0.6%.
Investors' focus remains on CPI data, which could come in weaker than expected, "helped by more benign energy inputs during the relevant measurement window," Tickmill Group said.
This could strengthen the case for the Fed to keep interest rates on hold in September, it added. Nonetheless, high oil prices, energy supply disruptions and resilient U.S. consumer demand mean that a Fed rate increase remains likely in 2026.
