Stock futures inch higher as investors brace for more inflation and labor data: Live Update

U.S. stock futures edged higher on Wednesday night as investors braced for more inflation and labor data after a volatile session spurred by the release of August's consumer price index.

Dow Jones Industrial Average Futures Up 68 points or 0.18%. S&P 500 futures And Nasdaq 100 futures Inches are 0.19% and 0.27% higher respectively.

Investors are ending a volatile session after late gains in tech shares helped major benchmarks pull back from their lows. The S&P 500 ended the day 1.07% higher, even after falling more than 1% on an intraday basis — the first for the broad index since October 2022.

At the same time, 30-stock Dao It rose 124.75 points or 0.31% after losing 743.89 points earlier in the session. The Nasdaq Composite closed 2.17% higher, recovering from a more than 1% decline.

Stocks fell the day before August's consumer price index showed an uptick in core inflation, which excluded volatile food and energy prices. The reading spooked investors hoping for a half-percentage point cut from the Federal Reserve at its Sept. 17-18 meeting.

“The inflation report we saw today is confirming a trend that we've recognized over the past few months, where the Fed is now – and I think rightfully so – focusing less on inflation and more on economic growth, which has completely changed. Market reaction ,” Lauren Goodwin, chief market strategist at New York Life Investments, told CNBC's “Closing Bell” on Wednesday.

“That means good economic news right now — and I would include today's inflation report as relatively good news, markets are a little bit stronger than expected — that's going to be good news for markets,” Goodwin continued.

Wall Street is expecting the August producer price index release on Thursday. Economists polled by Dow Jones expected a 0.2% increase in headlines and key readings last month, up from 0.1% and 0.0% previously.

Initial jobless claims data for the week ended Sept. 7 is also due and is expected to fall to 225,000, down from 227,000 the previous week, according to Dow Jones.

earnings front, Hooks Results are scheduled to be reported before Thursday's open. adobe It will publish its quarterly report after the close.