Inflation Data Supports Risk Appetite Ahead of Key Earnings Catalysts

Traders are heading into Thursday's session with fresh inflation data supporting risk appetite on Wall Street. The S&P 500 closed higher on Wednesday, driven by a tame consumer inflation report that cooled expectations for additional Federal Reserve tightening. Key market catalysts include weekly jobless claims and the producer price index, both due at 8:30 a.m. ET.

Data center shares remain in focus as lower rate pressure supports sentiment towards the sector. Analysts may become more constructive on data centers if rates remain contained, according to Jim Cramer. Stocks such as Vertiv, Equinix, and Digital Realty Trust are still trading below recent highs, despite August gains.

Apple is opening a new manufacturing center in Houston as part of its $600 billion U.S. investment. The company's shares are down 12% from their July 29 high but up 11% so far in 2026. Meanwhile, Cerebras fell 16% after hours after missing revenue expectations but raising full-year guidance.