U.S. inflation slowed unexpectedly last month, the government said in a report that was delayed and likely distorted by the government shutdown.
The Labor Department reported Thursday that its consumer price index rose 2.7% in November from a year earlier. Yet, year-over-year inflation remains well above the Federal Reserve's 2% target, and Americans are complaining loudly about the high cost of living.
Wall Street pointed toward gains before the opening bell Thursday.
Futures for the S&P 500 gained 0.4%, while futures for the Dow Jones Industrial Average inched up 0.2%. Nasdaq futures shot 0.8% higher.
Some of the companies hit hardest on Wednesday were poised to regain some of those losses Thursday. Broadcom, Oracle and CoreWeave were all up a little more than 1% early Wednesday, possibly boosted by a strong earnings report from the chipmaker Micron.
In energy markets early Thursday, U.S. crude was up 11 cents at $55.92 per barrel. Brent crude, the international standard, gained 7 cents to $59.75 per barrel. It had climbed 1.3% on Wednesday.
Oil prices have been falling for most of this year on expectations that companies are pumping more than enough crude to meet the world’s demand.
