US pre-open: Dow futures little changed ahead of PPI data

Dow Jones futures were little changed ahead of the bell on Thursday as traders looked ahead to more insight into the current inflationary environment.

As of 1240 BST, Dow Jones futures were up 0.02%, while S&P 500 and Nasdaq-100 futures were up 0.11% and 0.29%, respectively.

The Dow closed 38.29 points lower on Wednesday after minutes from the FOMC's most recent meeting revealed the Fed expects the recent banking crisis to bring about a recession later in the year.

CMC Markets' Michael Hewson said: "Last night's Fed minutes didn't tell us much more than what we already knew from the post-meeting statement and Powell’s press conference, with European markets finishing the day higher, while US markets slipped back.

"The recent banking turmoil appears to have tempered the reaction function of many Fed officials in terms of how many more hikes are needed to keep a lid on prices, while the risks of a modest recession have increased, according to Fed staffers. The primary focus for now still remains on inflation which is still too high and sticky, and a labour market that is proving increasingly resilient."

Thursday's primary focus will be March's producer price index from the Bureau of Labor Statistics, scheduled for release at 1330 BST, coming just 24 hours after last month's consumer price index report showed headline pressures had slowed last month, with headline CPI advancing just 0.1% month-on-month.

Elsewhere on the macro front, weekly jobless figures from the Labor Department will be published at 1330 BST.

In the corporate space, Bed Bath & Beyond and Delta Air Lines will report earnings on Thursday.

Reporting by Iain Gilbert at Sharecast.com