Wall Street leaned toward gains before today’s opening bell, coming off another record day for the S&P 500 and Nasdaq, according to the Associated Press. Futures for the S&P 500 rose 0.2%, while futures for the Dow Jones Industrial Average edged up less than 0.1%.
The U.S. releases new data on consumer prices Thursday, and economists believe that they eased to 3.1% in June from 3.3% in May. A report for inflation at the wholesale level, before costs are passed on to consumers, is expected Friday.
Traders are betting that there’s a 70% chance that the central bank will cut its main interest rate as soon as September, according to data from CME Group.
LegalZoom shares tumbled more than 28% after the online legal services company slashed its 2024 revenue guidance and announced the departure of CEO Dan Wernikoff, who will be replaced by Chairman Jeffrey Stibel.
Apple extended its run this year, inching up less than 1% in premarket after the technology market research firm IDC reported that the California-based tech giant’s second-quarter PC shipments grew more than 20% over a year ago. Apple is up more than 30% since May when the company announced a massive $110 billion buyback of its own shares.
In energy markets, U.S. benchmark crude oil fell 22 cents to $81.19 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, gave up 26 cents to $84.40 per barrel.
The U.S. dollar rose to 161.47 Japanese yen from 161.34 yen.
