US stock futures are pointing slightly higher this morning, with E-mini S&P 500 contracts up about 0.2% and Nasdaq-100 futures ahead by roughly 0.6%, as investors focus on a key inflation update and what it could mean for interest rates. July CPI is expected at 3.4% year on year, with core inflation seen at 2.5%, which would suggest the cost of living is still rising but closer to the central bank's comfort zone. At the same time, a softer 10 year Treasury yield near 4.68% hints at split views on a September rate move. The big question now is whether inflation is cooling fast enough to support rate sensitive sectors such as real estate and banks, while still keeping consumer focused and small business linked stocks on steady footing.
