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Futures on Wall Street are slightly lower as investors await the latest US Inflation data and a wave of corporate earnings. Analysts anticipate that the pace of headline price growth in September will have eased closer to the Federal Reserve’s 2% target. Minutes from the Fed’s September meeting reveal that a “substantial” majority of members supported a 50-basis point interest rate cut, though some officials expressed concerns about the extent of the reduction.

US stock futures dipped on Thursday ahead of new economic data and earnings reports. By 03:30 ET (07:30 GMT), the Dow Jones Futures had slipped by 0.1%, S&P 500 Futures were down 0.1%, and Nasdaq Futures had shed 0.1%. The previous session saw Wall Street’s main indices finish higher, boosted in part by the Fed meeting minutes.

Alphabet shares recovered some losses following news of potential government intervention in Google’s search business. Investors will be watching the upcoming release of the consumer price index (CPI) data, which is expected to show a slight deceleration in September. Core CPI, which excludes volatile items, is projected to hold steady.

The Fed minutes showed divergence among officials regarding the size of the interest rate cut at the last meeting. While a majority supported a 50-basis point decrease, some believed a smaller cut would have been sufficient. Market expectations indicate an 85% probability of a 25 basis point cut at the November meeting.

Delta Air Lines is set to report third-quarter earnings, with analysts focusing on capacity growth and pricing power. Oil prices rose on Thursday amid Hurricane Milton hitting Florida and concerns about potential supply disruptions in the Middle East. Traders are monitoring developments in the region, particularly regarding the conflict between Israel and Iran.

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