US Stock Futures Rise Ahead of Bank Earnings and Economic Data

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US Stock Futures Rise Ahead of Bank Earnings and Economic Data
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US stock index futures are experiencing growth Thursday, building upon the strong performance of the previous session. This positive momentum is driven by anticipation of upcoming bank earnings releases and significant economic data. The market reacted favorably to benign inflation data and robust bank earnings reported on Wednesday. Additionally, a US-brokered ceasefire agreement between Israel and Hamas has reduced geopolitical tensions in the Middle East. Investors are hopeful that the cooling inflation will prompt further interest rate cuts from the Federal Reserve. Oil prices dipped slightly Thursday, retracing some of their recent gains. This decline is attributed to a combination of softer US inflation data, new sanctions on Russian oil, and substantial reductions in US crude inventories.

Investing.com-- U.S. stock index futures edged higher Thursday, continuing the prior session's strong tone ahead of the release of more bank earnings as well as important economic data.

Investors also welcomed a U.S.-brokered ceasefire deal between Israel and Hamas, which heralds less geopolitical tensions in the Middle East.The data sparked some bets that cooling inflation will invite more interest rate cuts from the Federal Reserve, especially after theMarkets are still pricing in about two rate cuts this year, half of the four initially projected for the year. Higher-for-longer rates signal some pressure on risk-driven assets in the coming months.

Oil prices rose more than 2% on Wednesday, to their highest levels since July, as a benign US inflation report brought expectations of softer monetary policy back into play, potentially boosting economic growth.

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