Futures Inch Up Ahead of Crucial US Inflation Data

Canadian stock futures and US stock futures both rose on Wednesday as investors prepared for crucial U.S. inflation data due later in the day.

The TSX Composite Index closed at a record level of 36,458.33 on Tuesday after gaining 77.1 points.

September futures tracking Canada's blue-chip stocks edged up 0.2% while US stock futures rose with the Dow Jones Industrials jumping 121 points to 54,001 and the S&P 500 picking up 23.75 points to 7,771.25.

The inflation data will likely determine the near-term direction for interest rates as economists polled by Dow Jones expect a slight increase in monthly inflation of 0.1% in the headline number and 0.2% for the core reading.