Stock market today: Dow, S&P 500, Nasdaq head for losing week with key inflation report on deck
US stock futures rose slightly on Friday ahead of key inflation data. Oracle shares gained over 5% on strong cloud growth. Investors await the Consumer Price Index report, with economists expecting a 3.4% increase in August. Rising oil prices and Treasury yields have increased bets on a Fed rate hike to 72%.
How this was made

The 30-second read
Why it matters
The CPI release will likely set the tone for Fed rate decisions, influencing equity valuations and bond yields.
Market read
Oracle's pre‑market surge and the pending inflation data together shape short‑term market direction.
What to watch
Potential slowdown in enterprise IT spending or competitive pressure from AWS and Azure could temper Oracle's momentum.
Background
Futures for Dow, S&P 500 and Nasdaq were modestly higher in pre‑market trading as investors await the upcoming CPI report and Fed meeting.
Ticker impact
Oracle shares jumped over 5% in pre‑market trading on strong cloud computing growth in the latest quarter.
Potential short‑term rally; consider buying on pull‑back.
A double‑digit pre‑market move on a concrete earnings‑type catalyst signals fresh buying pressure.
Market effects
Cloud services sector may see broader strength as Oracle's growth hints at demand tailwinds.
U.S. equity futures reflect cautious optimism ahead of CPI data.
Higher Fed rate expectations could affect global bond yields and currency markets.
Counterpoint
If the cloud growth is already priced in, the rally could be short‑lived and a pull‑back may follow.
Key entities
- companyOracle
U.S. software and cloud services provider.

