CPI on deck as stocks drift toward weekly loss while Oracle climbs on cloud growth
TL;DR Summary
US stock futures waver ahead of the August CPI report, with the Dow, S&P 500 and Nasdaq on pace for a weekly decline as oil climbs and yields rise, keeping bets on a Fed rate hike later this month near the higher end. Economists expect CPI to rise 0.4% month-over-month and 3.4% year-over-year, with core CPI near 2.4% YoY. Oracle shares jumped in premarket trading after stronger cloud demand and AI data-center spending, while tech names remained broadly mixed amid a backdrop of inflation concerns and rate-hike expectations.
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