Futures Skyrocket as Another Inflation Report Looms

Stock futures climbed Thursday morning as traders prepared for the August producer price index, a measure of wholesale inflation.

Futures for the Dow Jones Industrials leaped 90 points, or 0.3%, to 35,008.

Futures for the S&P 500 were 17.5 points, or 0.4%, at 4,535.

Futures for the NASDAQ hiked 66 points, or 0.4%, to 15,618.25.

Another inflation metric looms ahead Thursday: the August reading of the producer price index. It is expected to have risen 0.4%, per economists polled by Dow Jones. In July, wholesale prices climbed 0.3%, surpassing expectations. Retail sales and jobless claims are also due before the open.

In the world of earnings, Adobe is expected to post quarterly results after the market close Thursday.

In Japan, the Nikkei 225 index hiked 1.4% Thursday, while in Hong Kong, the Hang Seng inched higher 0.2%.

Oil prices jumped $1.38 to $89.90 U.S. a barrel.

Gold prices settled $3.20 to $1,929.30.

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