Steady Wall Street: Markets Eye Economic Data and Fed Commentary

U.S. stock index futures remained steady as investors awaited economic data and Federal Reserve Chair Jerome Powell's commentary. Key factors include anticipated PPI and jobless claims data, followed by Powell’s economic outlook update. Market focus centers on potential interest rate cuts amid inflationary concerns under President-elect Trump’s administration.

On Thursday, U.S. stock index futures held steady as investors anticipated fresh economic data and Federal Reserve Chair Jerome Powell's remarks for insights on monetary policy.

The producer price index (PPI) and weekly jobless claims data are awaited, expected to have implications similar to those from Wednesday's consumer price index data, hinting at a possible December rate cut.

Market participants are pricing an 82.3% likelihood of a rate reduction next month, influenced by rising inflation expectations under Trump's incoming administration. Furthermore, earnings from Walt Disney and Applied Materials are drawing attention, alongside fluctuations in the cryptocurrency and technology sectors.

(With inputs from agencies.)