U.S. stock futures are modestly higher Thursday morning as investors digest Wednesday’s CPI report and await July PPI and weekly Jobless Claims at 8:30 AM ET. Easing oil prices and reduced expectations for a near-term Fed rate hike are supporting sentiment, while strong AI earnings continue to boost technology stocks. Market Snapshot Dow Futures: +0.32% S&P 500 Futures: +0.23% Nasdaq 100 Futures: +0.13% 10-Year Treasury Yield: ~4.68% VIX: 14.54 Brent Crude: ~$87.35 Gold: ~$4,443 Bitcoin: ~$63,423 Key Market Drivers PPI & Jobless Claims: July PPI and weekly Jobless Claims are the key economic catalysts at 8:30 AM ET. Economists expect headline PPI to rise 0.2% month over month, while core PPI is expected to increase 0.3%. A softer reading could reinforce expectations for the Fed to remain on hold, while a hotter print could push Treasury yields higher and pressure growth stocks. AI Infrastructure: CRWV and SMCI remain in focus following strong results that have renewed momentum across AI infrastructure, servers and data-center stocks. AMAT: Applied Materials is in focus ahead of its earnings report after today's close, with investors watching for commentary on semiconductor-equipment demand and AI-related capital spending. ACCL: Accelerant shares surged roughly 44% premarket after the company agreed to be acquired by Thoma Bravo in a deal valued at approximately $4 billion. TPR: Tapestry shares fell roughly 8% premarket after the luxury-brand company issued a weaker outlook. CSCO: Cisco remains in focus following its latest results and outlook as investors assess whether strong AI-related demand is translating into broader technology-sector gains. Oil & Treasury Yields Brent crude is trading below $88 a barrel, down roughly 2%, easing some near-term inflation pressure. However, geopolitical risks surrounding Iran and the Strait of Hormuz remain important risks for energy prices. The 10-year Treasury yield is around 4.68%. The direction of yields following today's inflation data will be important for high-growth and technology stocks. Market Outlook The market setup remains cautiously constructive but event-driven. Strong AI earnings, lower oil prices and reduced expectations for an imminent Fed hike are supporting equities. However, PPI, Jobless Claims and Treasury yields could determine the next major market move.