S&P 500, Dow Set for Higher Open on Falling Oil Prices and Lower PPI

The S&P 500 and Dow indices are poised for a higher open on Thursday due to falling oil prices, which have improved risk appetite among investors.

Brent crude futures declined by about 2.2% after six consecutive sessions of gains as investors assess weaker global demand this year and increased U.S. crude stocks.

The producer price inflation (PPI) data came in at 4.7%, lower than the expected 4.9% gain in July, following benign consumer inflation data that strengthened expectations for a Federal Reserve interest rate hold at its next meeting.

Brock Weimer, an analyst with Edward Jones, noted that while the PPI reading is modestly dovish, it's unlikely to sway the Fed's decision on interest rates.