US Stock Futures Edge Higher Despite Inflation Concerns; Tech Earnings in Focus

US stock futures traded modestly higher on Thursday morning, despite a hotter-than-expected inflation report in January. Dow Jones futures (YM=F) rose 0.1%, Nasdaq futures (NQ=F) climbed 0.2%, and S&P 500 futures (ES=F) gained 0.2%.

The January inflation report showed consumer prices rising more significantly than anticipated, with inflation remaining near 3%. This data increases the likelihood that the Federal Reserve will maintain interest rates on hold for the immediate future, as the central bank aims to bring inflation closer to its target of 2%.

Company News:

* Reddit (RDDT) stock fell in after-hours trading on Wednesday following the company's earnings report, which revealed a shortfall in user growth.
* Robinhood (HOOD) surged after the bell, driven by fourth-quarter earnings that exceeded expectations.

Upcoming Events:

* Wall Street will receive an additional inflation update on Thursday with the release of the producer price index (PPI) at 8:30 a.m. ET. Analysts predict a 0.3% increase in the PPI reading, which measures wholesale price changes.
* Earnings reports from AirBnB (ABNB), Roku (ROKU), and Coinbase (COIN) are also anticipated on Thursday.

Other News:

* President Donald Trump's ongoing trade war continues to hover in the background. While the president has not specified a date for announcing reciprocal tariffs, he has hinted at tit-for-tat duties by week's end.

International Markets:

Asian markets exhibited optimism on Thursday, driven by the agreement between US President Donald Trump and Russian leader Vladimir Putin to discuss resolving the Ukraine conflict. This, combined with the possibility of Trump suspending some tariffs, boosted market sentiment, despite a dip in Wall Street the previous day.

Energy Markets:

Oil prices declined, with Brent crude (BZ=F) falling 2.7% to below $72 per barrel, partly due to optimism over US-Russia peace talks. These declines, along with a 3% drop in Exxon Mobil's (XOM) stock, contributed to market pressures.