US stock futures were trading largely flat on Thursday, September 10, as investors awaited key inflation data that could shape the US Federal Reserve's policy outlook.
S&P 500 futures were little changed, while Nasdaq-100 futures fell 0.4%. Futures tied to the Dow Jones Industrial Average advanced 99 points, or 0.2%. The cautious trading followed a weak session on Wednesday, when the S&P 500 fell 0.5%, the Dow Jones Industrial Average dropped 0.8%, and the Nasdaq Composite declined 0.6%. All three major indices are on track to end the week in negative territory.
The subdued mood comes as escalating tensions in West Asia continue to support higher oil prices, while mounting inflation concerns have pushed Treasury yields to multi-decade highs.
In an effort to ease pressure in the bond market, the Treasury Department on Wednesday said it would buy up to $6 billion of outstanding securities set to mature in the 10- to 20-year sector, three times the $2 billion amount initially communicated to investors.
However, the announcement fell short of investors' expectations, pushing the 10-year Treasury yield to its highest level since November 2023. Bond market participants are now awaiting the release of US wholesale inflation data later in the session for further direction.