Stock futures rose on Thursday after inflation readings showed slightly lower-than-expected annual inflation growth.
Dow Jones Industrial Average futures rose 136 points, or 0.4%. The S&P 500 and the related Nasdaq-100 added 0.5% and 0.9%, respectively.
July consumer prices rose by 3.2% on an annual basis, lower than the 3.3% consensus expected by economists polled by Dow Jones. In monthly terms, inflation rose 0.2%, in line with estimates. The report also noted that real average weekly earnings were unchanged last month, in another positive sign.
Nevertheless, excluding food and energy, the core July CPI reading rose 4.7% on the year, well above the Federal Reserve's 2% target.
Meanwhile, Disney shares rose 1.3% after announcing an upcoming price increase for ad-free Disney+ subscriptions. The media company also reported third-quarter earnings per share that exceeded expectations. But Six Flags slipped 3.5% following a worse-than-expected report.
More than 90% of S&P 500 companies had reported earnings for the quarter by Thursday morning. Of those, about four-fifths have exceeded Wall Street expectations, according to FactSet.
The US dollar index, which measures the US dollar against six major currencies, was down 0.45% at a trading level of 101.855.
