US Stock Futures Edge Higher Amid Softer Inflation and Housing Jitters

US stock futures are pointing slightly higher this morning as investors weigh softer inflation signals against signs of housing weakness. The S&P 500 and Nasdaq futures both edged up, while US 10-year Treasury yields drifted lower ahead of Federal Reserve meeting minutes. This could hint at slightly cheaper borrowing costs over time for households and companies. However, the pending home sales fell 2.3% in July and housing starts dropped 12.4%, showing that buyers and builders are pulling back.

The key question now is whether easing rate pressure can offset a cooling housing market for bank stocks and real estate-focused sectors. Several top movers include Moderna, which surged 176.97% after positive Phase 3 melanoma vaccine data and multiple analyst upgrades, and BioNTech, which gained 21.96% as investors reacted to fresh attention on cancer vaccine developers.

Earnings from Walmart, Alibaba, and Deere will shape how investors think about global consumer and industrial demand today. The US 10-year Treasuries react to FOMC minutes today, shaping expectations for borrowing costs across mortgages and corporate debt.