Stock Market Today: S&P 500, Dow Futures Rise as July Inflation Cools

U.S. stock futures were mixed on Thursday, as the Dow Jones and S&P 500 indices rose, while the Nasdaq 100 declined following Wednesday’s mixed close. After the Consumer Price Index (CPI) rose 3.4% year-over-year in July, down from June’s 3.5% increase, in line with expectations, investors will review July’s PPI and ex-food & energy PPI data, set to be released before the opening bell. The U.S. and Iran made no progress on reviving their interim peace agreement, leaving the Strait of Hormuz heavily disrupted amid fresh attacks on commercial shipping, according to Reuters. Geopolitical tensions remain elevated as President Donald Trump took to social media, declaring that “Iran is all talk and no action, the Bully of the Middle East ​No Longer.” Meanwhile, the 10-year Treasury bond yielded 4.67%, and the two-year bond was at 4.17%. The CME Group’s FedWatch tool projections show markets pricing a 36.1% likelihood of the Federal Reserve hiking the current interest rates during its September meeting. The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were mixed in premarket on Thursday. The SPY was up 0.16% at $773.76, while the QQQ declined by 0.02% to $723.52.