US stock futures were little changed on Thursday morning as investors awaited another inflation reading and a batch of earnings. Cisco and Cerebras posted better-than-expected quarterly results and outlooks, but their reports of strong AI infrastructure demand failed to impress Wall Street, which sold the stocks in extended trading. Applied Materials, which makes chipmaking equipment, is set to report results Thursday after its stock has surged 190% over the past year. The Producer Price Index, due Thursday morning, could offer further evidence of easing inflation after Wednesday's Consumer Price Index showed cooling in July. Oil prices fell as President Trump shifted from military action to economic pressure, with the administration claiming total control over the Strait of Hormuz despite private data showing low shipping traffic.
