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Stock futures nudged higher Thursday morning as investors gained confidence in signs of easing inflation.
Futures for the Dow Jones Industrials hiked 134 points, or 0.3%, to 40,253.
Futures for the S&P 500 index tacked on 12.5 points, or 0.2%, at 5,489.50
Futures for the NASDAQ moved up 51.75 points, or 0.3%, to 19,166.75.
Dow component Walmart added to the early momentum, with a raised outlook and an earnings report that topped analyst estimates, sending shares up more than 6% in premarket trading. Elsewhere, Cisco Systems jumped more than 5% after announcing a fiscal fourth-quarter earnings and revenue beat and cuts to its global workforce.
Encouraging inflation data this week has largely swept away investors’ recessionary fears and led to a rebound in equities following last week’s sharp global selloff.
Several companies also made moves after 13F regulatory filings revealed closely watched investment managers were adding the stocks to their portfolios. Ulta Beauty shares popped more than 13.5% after Warren Buffett’s Berkshire Hathaway reported a new stake in the cosmetics company. Nike shares added about 3% after Bill Ackman’s Pershing Square revealed a position in the sneaker giant.
In Japan, the Nikkei 225 gained 0.8%, Hong Kong, the Hang Seng index slid four points.
Oil prices gained 85 cents to $77.83 U.S. a barrel.
Gold prices added $23.00 to $2,501.70
