Dow, S&P 500 Futures Climb as July PPI Cools Fed Rate Hike Expectations

U.S. stock futures were trading mixed on Thursday night after July's producer price index (PPI) reading showed flat month-over-month inflation, missing market forecasts of a 0.2% increase.

The PPI print followed Wednesday's consumer price index (CPI) report, which showed headline CPI rising 0.1% month over month and 3.4% year over year.

Both annual measures indicated a slight moderation from June, alleviating inflation concerns that had been weighing on markets in recent sessions, particularly regarding a near-term hike in the Federal Reserve's key interest rate.