Nasdaq Futures Jump Ahead of Inflation Report Amid AI Infrastructure Strength

US stock futures rose on Wednesday as investors awaited the July inflation report from the Bureau of Labor Statistics. The S&P 500 futures gained about 0.2% and Nasdaq 100 contracts climbed roughly 190 points, or 0.6%, while Dow futures remained little changed.

The inflation report is expected to show a slight easing in headline prices, with economists predicting a 0.1% increase from June's decline of 0.4%. The annual rate is forecasted to slow to 3.4% from 3.5%. Core CPI is also expected to rise 0.2% on the month and slow to about 2.5% year on year.

The market remains finely balanced, with investors still unsure whether the Federal Reserve will raise rates in September. A softer reading could reinforce the argument that inflation is cooling after recent labor-market weakness, while a hotter print could lift Treasury yields and pressure growth shares.