US Stock Futures Tick Up Amid Oil Price Surge
US stock futures have ticked up on Thursday after Wall Street fell due to higher yields. Investors remain cautious ahead of key inflation data that could influence expectations for the Federal Reserve's policy decision next week.
The global benchmark crude oil price has surged above $102 a barrel, driven by escalating US-Iran hostilities and concerns about disruptions to oil flows through the Strait of Hormuz.
This energy-driven inflation pressure has revived concerns that an extended energy shock could keep inflation elevated and persuade Fed policymakers to lift interest rates. The 10-year Treasury yield edged down 20 basis points to 4.82% after rising as high as 4.85% on Wednesday.
The Labor Department's PPI report is scheduled for Thursday, followed by the CPI report on Friday. These data points could influence how officials approach a key interest rate decision next week.