Oil Slump and Inflation Data Boost Wall Street Futures

Wall Street futures inched higher on Thursday as crude oil prices fell and investors awaited producer-price inflation data for clues on inflation and the Federal Reserve's interest rate path.

Brent crude futures declined by 1.9% after six straight sessions of gains, with investors assessing weaker global demand this year and higher U.S. crude stocks.

The July producer prices figures are due at 8:30 a.m. ET, which could provide insights into the Federal Reserve's interest rate path following benign July consumer inflation data that strengthened expectations for a steady rate at its next meeting.