Mixed Inflation Data: Stock Futures Rise, Wholesale Inflation Surprises, and PPI Exceeds Expectations

Stock futures trimmed gains as investors awaited the release of the Consumer Price Index (CPI) report, which showed that inflation held steady in September but increased slightly faster than expected. The major US stock indexes scored their fourth winning session in a row on Wednesday despite hotter-than-expected wholesale inflation data. Eyes are also on the upcoming third-quarter earnings season, with expectations for muted earnings growth. Oil prices rose after Russia and Saudi Arabia committed to extra cuts in crude output, but market sentiment remains fragile due to tensions in the Middle East.