Stock Futures Rise Ahead of July CPI Report as Oil Nears $90

On Wednesday, U.S. stock futures edged higher as investors awaited the release of July's consumer price index (CPI) report, which is expected to influence the Federal Reserve's policy decision at its September meeting. The market's cautious optimism comes amid rising oil prices, which have pushed toward $90 per barrel following a deadly attack in the Red Sea. The attack has heightened geopolitical tensions and raised concerns about supply disruptions, contributing to upward pressure on energy prices. Investors are closely monitoring the inflation data for clues on whether the Fed will adjust interest rates, as the central bank balances price stability with economic growth. The CPI report is a key indicator that could shape monetary policy in the coming months.