US Stock Market Future: Expectations Before the Inflation Report

American stock futures traded mostly flat Thursday night as investors awaited an important inflation report that could shape the Federal Reserve's next policy moves.

Dow Jones Industrial Average futures traded slightly below the zero mark. Contracts on the S&P 500 and the tech-heavy Nasdaq 100 were up about 0.1%.

Eyes are on the September inflation data coming on Friday. Investors are anticipating that the Consumer Price Index (CPI) could hover around an annual rate of about 3%. The CPI report, which was delayed due to the ongoing government shutdown, is set to be released at 08:30 Eastern Time on Friday; this situation indicates the second-longest such issue in U.S. history.

Additionally, since this will be the first major economic data released since the government shutdown began, the report offers investors a significant opportunity to gauge the economic pulse. This information has the potential to reshape expectations regarding Federal Reserve interest rate cuts.

Stock market shares are on track for weekly gains; the S&P 500 is up about 1.1% this week, while the Nasdaq and Dow have both recorded gains of about 1.2%.

At Thursday's close, Intel shares rose nearly 7% in extended trading after the chip giant's third-quarter earnings exceeded Wall Street estimates, fueling optimism in the semiconductor sector.

Intel's Head of Investor Relations John Pitzer stated in an interview, "We believe we are well positioned to play a more significant role in the artificial intelligence space."

Moreover, Target shares rose following the retailer's announcement of plans to reduce its corporate workforce by about 8%, marking the company's first major layoff move in a decade.