Futures rise as focus shifts to inflation data
U.S. stock index futures inched higher on Thursday as investor focus turned to October inflation data for clues on the path of future interest rate hikes.
Republicans were edging closer to securing a majority in the U.S. House of Representatives early on Thursday but the control of the Senate hung in balance, two days after Democrats staved off a Republican “red wave” in the elections.
Inflation data, due at 8:30 a.m. ET (1330 GMT), is expected to show consumer prices moderated to 8% in October from 8.2% in September, while the core rate, which excludes volatile food and energy prices, is expected to have increased 6.5% on a year-on-year basis last month, from 6.6% in September.
Rivian Automotive Inc (RIVN.O) gained 6.7% after the electric-vehicle maker reported a smaller-than-expected loss, higher number of preorders and reaffirmed its full-year production outlook.
Online dating firm Bumble Inc (BMBL.O) fell 11.4% in thin trading as it forecast fourth-quarter revenue below Wall Street expectations.
The CBOE volatility index (.VIX), also known as Wall Street’s fear gauge, rose to 26.56 points, and was close to a weekly high.
