US pre-open: Futures mixed as investors await PPI inflation test
By Iain Gilbert
Date: Wednesday 10 Sep 2025
(Sharecast News) - Wall Street futures were mixed ahead of the bell on Wednesday as market participants geared up for the first of two key inflation readings this week.
As of 1235 BST, Dow Jones futures were down 0.23%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.16% and 0.09% firmer, respectively.
The Dow closed 196.36 points higher on Tuesday as all three major indices managed to wrap up the session with fresh record closes.
Market participants were looking ahead to the latest producer price index, which, alongside Thursday's more closely watched consumer price index reading, will grant further insight into the state of inflation across the US economy. Economists expect to see PPI increase 0.3% month-on-month in both the headline and core readings. This would push the annual headline CPI rate to 2.9%, while the core reading was expected to stay unchanged at 3.1%.
Rostro's Joshua Mahony said: "Looking ahead to today's US session, focus will be on producer price inflation, which offers a precursor to tomorrow's CPI release. Last month's PPI print at 0.9% surprised to the upside, stoking concerns around growing price pressures that producers will ultimately pass on to the consumer. Another hot reading today could temper expectations for aggressive Fed easing, while a cooler number would bolster hopes for policy flexibility. With markets finely poised ahead of tomorrow's inflation test, today's release is set to play a crucial role in shaping sentiment into the end of the week."
Elsewhere on the macro front,
US mortgage applications surged 9.2% in the week ended 5 September, according to the Mortgage Bankers Association of America. Last week's drop fully erased the drop from three consecutive weeks following a 15bps plunge in benchmark mortgage rates, which fell to their lowest in nearly a year, as a wave of disappointing labour market data pushed down yields on long-dated Treasury securities. Applications to refinance a mortgage, which are more sensitive to short-term changes in interest rate, shot up 12.2% week-on-week, while applications to purchase a home rose by 6.6%.
Still to come, July wholesale inventories figures will be published at 1500 BST.
In the corporate space, Oracle shares surged 26% in extended trading, after reporting that multicloud database revenues from Amazon, Google and Microsoft had grown a massive 1,529% last quarter, fueled by demand for AI servers.
No major earnings were slated for release on Wednesday.
Reporting by Iain Gilbert at Sharecast.com
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