More key US inflation data, Foxconn's optimism, TikTok ban - what's moving markets

investing.com:

Investing.com — U.S. equity futures point to a higher open as investors await the release of the latest inflation gauge, the last major report before next week's Federal Reserve meeting. Foxconn expresses confidence for the rest of the year, while TikTok face more political pressure on Capitol Hill. 

There is another measure of U.S. inflation for investors to keep an eye on Thursday, the producer price index for February.

This release will have extra focus this time out after Tuesday’s hotter-than-expected CPI print raised questions about the likelihood of a rate cut by the Federal Reserve in June.

The PPI measures inflation from the perspective of the product manufacturer or service supplier, and is widely seen as a leading indicator for the more widely-followed consumer price index.

It is expected to rise 0.3% on the month in February, an annual rise of 1.1%, while the core annual figure, which excludes volatile food and energy prices, is seen falling to 1.9%, from 2.0% the prior month.

The consumer price index rose 0.4% last month after climbing 0.3% in January, according to data released on Tuesday, while annually the CPI increased 3.2%, after advancing 3.1% in January.

This suggested some stickiness in inflation, which would be a problem for the Fed ahead of next week’s meeting, where it is widely expected to keep rates on hold as the officials digest all the available economic data.

U.S. stock futures edged higher Thursday, as investors await the release of key economic data amid uncertainty over when the Federal Reserve will start its much-anticipated rate-cutting cycle.

By 05:00 ET (09:00 GMT), the Dow futures contract was 135 points, or 0.4%, higher, S&P 500 futures had risen by 18 points or 0.4%, and Nasdaq 100