US Session: Markets Remain Mostly Unchanged in Pre-market Trading after the CPI Data

Futures for the S&P 500 remained mostly unchanged on Thursday, after another day of record highs, as Wall Street digested the latest data on the key Consumer Price Index. Futures tied to the broad index rose by just 0.1%, as did those for the Dow Jones Industrial Average. Nasdaq 100 futures also climbed 0.1%.

The published data was mixed, as the Consumer Price Index (CPI) came in higher than expected on a monthly basis, but in line with forecasts on an annual basis.

The latest CPI reading showed an increase of 0.4% for August, according to the Bureau of Labor Statistics. That’s more than the expected 0.3%, according to economists surveyed by Dow Jones. On a yearly basis, the index was reported at 2.9%, as expected.

Additionally, the so-called core CPI, which excludes volatile food and energy prices, rose by 0.3% in August and by 3.1% year-over-year. Both figures matched Dow Jones forecasts.

This follows an unexpected decline in the Producer Price Index (PPI), which fell 0.1% on a monthly basis. PPI rose 2.6% on a year-over-year basis.

Also on Thursday, weekly jobless claims posted a surprising increase. Data for the week ending September 6 showed 263,000 claims, more than the expected 235,000 and 27,000 higher than the previous period.