Futures Dip Ahead of Inflation Report

Stock futures were marginally lower Thursday as traders awaited a major U.S. inflation report.

Futures for the Dow Jones Industrials dropped 80 points, or 0.2%, to 39,971.

Futures for the S&P 500 index lost 10.25 points, or 0.2%, at 5,677.75.

Futures for the NASDAQ Composite flopped 30.25 points, or 0.1% to 20,869.50.

In corporate news, Costco Wholesale gained 3% after announcing its first membership rate increase since 2017. WD-40 Company added 12% on the back of its fiscal third quarter report, posting total net sales that rose 9% from the year-ago period.

Economists surveyed by Dow Jones are looking for the June reading for the consumer price index to be up 0.1% month over month and 3.1% year over year. This would build on the positive news from the May report, which showed inflation unchanged on a monthly basis and up 3.3% year over year.

The June core CPI, which strips out volatile food and energy prices, is expected to rise 0.2% for the month and 3.4% from a year earlier.

In Japan, the Nikkei 225 gained 0.9% to yet another fresh high Thursday, while the Hang Seng in Hong Kong vaulted 2.1%.

Oil prices let go of one cent to $82.09 U.S. a barrel.

Gold prices surged $6.50 to $2,386.20

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