US Futures Edge Higher on Earnings, Soft PPI

US stock futures edged higher on Wednesday, with S&P 500 futures rising 0.2%, the Nasdaq 100 ticking up 0.1%, and Dow Jones futures gaining nearly 180 points, as investors welcomed a softer-than-expected PPI report.

Producer prices in the US were unchanged in June, defying expectations for a slight increase, with the decline largely driven by a drop in services costs.

The data bolstered market expectations that the Fed could begin cutting interest rates later this year.

Meanwhile, attention also turned to the latest wave of corporate earnings.

Bank of America shares rose nearly 1% in premarket trading after the lender reported better-than-expected earnings, though revenue came in below forecasts.

Goldman Sachs also added 0.9% after reporting a profit surge while Morgan Stanley edged down 0.4% despite releasing stronger-than-expected second-quarter results.

Elsewhere, Johnson & Johnson gained 2% after beating earnings expectations and raising its full-year outlook.