US equity futures were cautiously lower ahead of Thursday's opening bell as traders digested the consumer inflation report. The Dow Jones Industrial Average futures slipped by 0.2%, while S&P 500 futures saw a decline of 0.3%. Additionally, Nasdaq futures were down by 0.4%. In the commodities market, oil prices experienced an upward trend.
The front-month global benchmark North Sea Brent crude increased by 1.3% to reach $77.56 per barrel. Similarly, US West Texas Intermediate crude also rose by 1.3%, now priced at $74.22 per barrel. On the consumer front, prices released at 8:30 am ET indicated a rise of 0.2% in September, matching the prior month’s increase.
This was notable compared to estimates compiled by Bloomberg, which had forecasted a smaller gain of 0.1%. Core prices also rose by 0.3%, aligning with August's gain and surpassing estimates that predicted a 0.2% increase. The job market also displayed movements as new unemployment claims rose to 258,000 for the week ending October 5, an increase from 225,000 recorded in the previous week.
This figure was compared against estimates that called for 230,000 claims. Turning to global markets, Japan's Nikkei saw a close of 0.3% higher, while Hong Kong's Hang Seng ended the day with a significant 3% increase. China's Shanghai Composite followed suit, finishing 1.3% higher. Contrasting this trend, the UK's FTSE 100 experienced a slight slip of 0.05%, and Germany's DAX index fell by 0.1% during Europe's early afternoon session.
In the equities landscape, Tempest Therapeutics ($TPST) shares soared by 25% in pre-bell trading after the announcement of a deal with Roche aimed at advancing a treatment candidate for a form of liver cancer, alongside the extension of a limited duration shareholder rights plan. Furthermore, shares of GXO Logistics ($GXO) surged by 10% following a Bloomberg report that indicated the company is exploring a potential sale.
On the other hand, not all stocks fared well; shares of 10X Genomics ($TXG) plummeted by 27% after revealing preliminary Q3 sales that fell short of analysts' expectations. Market participants are now closely monitoring these developments as they may significantly influence trading behaviors in the near future..