Stock futures rose Thursday after the S&P 500 closed at its highest level in over a year. Markets also looked ahead to another key inflation reading.
Futures for the Dow Jones Industrials climbed 58 points, or 0.2%, to 34,522.
Futures for the S&P 500 advanced 58 points, or 0.2%, to 4,445.25.
Futures for the NASDAQ jumped 1.5% Thursday, while in Hong Kong, the Hang Seng Index popped 2.6%. The S&P 500 and Nasdaq Composite jumped 0.74% and 1.15%, respectively, to hit their highest closing levels since April 2022.
Shares of PepsiCo rose more than 2% after the beverage and snack giant reported earnings and revenue for the second quarter that beat analyst expectations. Meanwhile, Delta popped 4.3% after the airline posted record quarterly earnings and raised its outlook for the full year.
Disney shares added more than 1% after the entertainment giant extended CEO Bob Iger's contract through 2026, two years longer than planned.
Stocks surged Wednesday after a cooler-than-expected June consumer price index report eased some worries that the Federal Reserve may tip the economy into a recession as it fights to bring down sticky inflation.
Investor attention turns toward the producer price index, another key inflation gauge due out Thursday. The results could heavily influence future central bank interest rate hikes and decipher the road ahead for inflation.
Oil prices were unchanged at $75.75 U.S. a barrel.
Gold prices took on $1.90 to $1,963.60. U.S. an ounce.