Stock Market Surges to New Heights: Key Inflation Report Threatens Rate Cut – What to Expect Next

New York, USA – U.S. stock futures showed minimal changes on Wednesday night following record highs set by both the S&P 500 and Nasdaq Composite. Futures linked to the broad market index and Nasdaq 100 futures experienced slight slips, while Dow Jones Industrial Average futures dipped slightly. In after-hours trading, Costco Wholesale saw a 2% increase following an announcement of its first membership rate increase since 2017. WD-40 Company also saw an increase of 12% after its fiscal third quarter report showed a 9% rise in total net sales compared to the previous year.

During regular trading hours, the S&P 500 reached a historic milestone, closing above 5,600 for the first time. Similarly, the Nasdaq Composite also achieved a record close, with the 30-stock Dow gaining over 400 points. These positive moves were observed ahead of an upcoming key inflation report scheduled for Thursday morning. Economists are anticipating a 0.1% month-over-month increase and a 3.1% year-over-year rise in the consumer price index for June, building on the stability seen in the May report.

Market experts are looking closely at the upcoming inflation report, with some speculating possible impacts on big-cap tech companies depending on the outcomes. PepsiCo, Delta Air Lines, and Conagra are among the companies set to release earnings reports on Thursday before the market opens. This anticipation comes amidst discussions of potential rate cuts in September, with analysts closely monitoring any signals from the inflation data to gauge future market trends.