Mixed Expectations for CPI Inflation Update: Stock Market Reacts

US futures rose as investors awaited the release of the Consumer Price Index (CPI) report, which could influence the Federal Reserve's decision on interest rates. The stock market had its fourth consecutive winning session on Wednesday despite higher-than-expected wholesale inflation data. The CPI report is crucial for the Fed's policy decisions, and any indication of uncontrolled inflation could keep a rate hike on the table. The third-quarter earnings season begins with reports from Delta and Walgreens, with expectations of muted earnings growth. Oil prices rebounded after Russia and Saudi Arabia committed to additional cuts in crude output, but market sentiment remains fragile due to tensions in the Middle East.