S&P 500 futures rose Thursday after investors got more economic data indicating inflation pressures are easing. Futures linked to the broad market index climbed 0.2%, while Nasdaq 100 futures added 0.7%. Dow Jones Industrial Average futures fell 71 points, or 0.2%. May’s producer price index fell 0.2% from the prior month. Economists polled by Dow Jones expected an increase of 0.1%. That report comes a day after May’s consumer price index rose less than expected last month. Thursday’s data also follows a Federal Reserve policy decision. The Fed kept rates unchanged, but noted there has been progress made on the inflation front. That said, the central bank lowered its rate cut expectations for 2024 to one from its prior estimate of three. “The Fed unsurprisingly left policy unchanged but continues to just about keep the door open to rate cuts this year,” wrote James McCann, deputy chief economist at abrdn. The “downside surprise in CPI inflation was more encouraging, and with most members split between one or two cuts we wouldn’t be surprised to see market pricing continue to flirt with multiple rate cuts this year.” Broadcom shares surged 13% in the premarket after the chipmaker topped fiscal second-quarter expectations and announced a 10-for-1 stock split. On the other hand, Dave & Buster’s Entertainment shares dropped 10% after the company’s first-quarter revenue missed estimates. Wall Street is coming off a strong session for the S&P 500 and Nasdaq Composite, with each benchmark hitting all-time highs and closing at records. The broader market index notched a 0.85% advance, while the tech-heavy Nasdaq rallied 1.53%. The 30-stock Dow was the outlier, closing down slightly by 0.09%. U.S. Treasury yields slipped once again on Thursday after the latest inflation data showed an unexpected drop. The rate on the 10-year Treasury slid around 2 basis points to 4.273%. The benchmark note yield also hit its lowest level since April 1, briefly trading at 4.24%. The 2-year Treasury yield also fell nearly 5 basis points at 4.705%. Asia-Pacific markets largely rose on Thursday after the U.S. Federal Reserve held the federal funds rate at 5.25% to 5.5%, and shifted its “dot plot” to project only one rate cut this year. In Asia-Pacific, South Korea’s Kospi led gains, popping 0.98% and closing at 2,754.89. The index marked a third straight day of gains, while the small cap Kosdaq was up marginally to 871.33. Hong Kong’s Hang Seng index rose 0.87%, powered by gains in electric vehicle stocks despite the European Union slapping tariffs of up of 38% on Chinese EV makers. The mainland Chinese CSI 300 also reversed earlier gains, losing 0.51% and hitting its lowest level in about two months. Japan’s Nikkei 225 reversed earlier gains to fall 0.4% to 38,720.47, while the broad based Topix was 0.89% lower to end at 2,731.78. Australia’s S&P/ASX 200 rose 0.44% and closed at 7,749.7, rebounding from two days of losses. Crude oil futures fell Thursday after rising U.S. stockpiles sent a bearish signal to the market and the Federal Reserve dialed back interest rate cut expectations for the rest of the year. Still, oil prices have gained 3% this week, recovering from a sell-off on the OPEC+ plan to increase production in the fourth quarter. Oil market analysts generally viewed the sell-off last week as an overreaction. West Texas Intermediate July contract: $77.88 per barrel, down 62 cents, or 0.79%. Year to date, U.S. crude oil has gained 8.6%. Brent August contract: $82.07 per barrel, down 53 cents, or 0.64%. Year to date, the global benchmark is ahead 6.5%. Gold prices fell on Thursday after the U.S. Federal Reserve projected just one interest rate reduction this year, dashing investors’ hopes of two cuts, while a cooler-than-expected inflation report limited the dip. Spot gold was down 0.3% at $2,315.86 per ounce, as of 0924 GMT. U.S. gold futures fell 1% to $2,331.60.