Stock market today: Dow, S&P 500, Nasdaq futures inch higher as inflation data looms large over Fed policy outlook

Market Overview - US stock futures showed mixed trading patterns as Wall Street awaited key economic reports that could influence the Federal Reserve's interest rate decisions and the overall economic outlook [1] - The Dow Jones Industrial Average futures decreased by 0.2%, while S&P 500 futures increased by approximately 0.2%, and Nasdaq 100 futures remained just above the flat line [1] Corporate Earnings and Performance - On Tuesday, stocks reached new record highs following a revision of US job numbers indicating a slowdown in the labor market, reinforcing investor expectations for a rate cut at the Fed's upcoming meeting [2] - Oracle's shares surged nearly 30% in premarket trading after the company raised its forecast for AI-driven cloud revenue, projecting Cloud Infrastructure sales to reach $144 billion by 2030, a significant increase from the current year's estimate of $18 billion [6] - GameStop reported over a 20% increase in quarterly revenue, leading to a jump in its stock price [2] Economic Indicators - Concerns are emerging regarding whether a potential reduction in interest rates will be sufficient to support the stock market, particularly in light of persistent inflation above the Fed's 2% target [3] - The upcoming release of the Producer Price Index (PPI) and Consumer Price Index (CPI) will provide critical insights into inflation trends and their implications for interest rate cuts [3][4] Analyst Predictions - Barclays has raised its year-end target for the S&P 500 to 6,450 from 6,050, citing stronger-than-expected corporate earnings, resilient economic growth, and optimism surrounding artificial intelligence [4]