Stock futures edged higher Thursday as traders digested slightly hotter-than-expected inflation data, while global trade fears continue to linger. Futures tied to the S&P 500 added 0.1%, while Nasdaq 100 futures gained 0.3%. Dow Jones Industrial Average futures gained 82 points, or 0.2%. The January producer price index, which measures what producers get for their goods and services, rose 0.4% in January. That’s higher than the Dow Jones consensus estimate for 0.4%. Core PPI, which excludes food and energy, was up 0.3% for the month and in-line with the forecast, helping ease sentiment. “Thursday’s stronger-than-expected PPI helps to confirm, especially after Wednesday’s hot CPI, that inflation did indeed come roaring back in January,” said Paul Stanley, chief investment officer, Granite Bay Wealth Management. “Investors will need some time to reassess inflation expectations and rising bond yields as a result of this data.” In premarket trading, Cisco shares jumped more than 6% after the networking hardware maker lifted its full-year guidance and beat earnings expectations. Reddit shares sank more than 10% as quarterly user figures underwhelmed Wall Street, while Dutch Bros surged about 24% after the coffee shop chain reported stronger-than-expected earnings. Wall Street is coming off a choppy session after a data on Wednesday showed consumer prices sped up faster-than-expected, curbing expectations of the next rate cut out to September. Investors are also grappling with rising global trade tension. On Wednesday, the White House said President Donald Trump would impose reciprocal tariffs on imported goods before meeting with Indian Prime Minister Narendra Modi. Trump on Thursday posted on Truth Social that “today in the big one: reciprocal tariffs.” Earnings season continues, meanwhile, with Airbnb, Coinbase and Palo Alto Networks among the companies expected to report after Thursday’s closing bell. Of the more than 69% of S&P 500-listed firms that have already posted results, more than 75% have surpassed Wall Street expectations, according to FactSet. Treasury yields pulled back on Thursday even after another inflation report pointed to hotter-than-expected price pressures. The 10-year Treasury yield was down by 4 basis points at 4.589%. The 2-year Treasury yield dipped 3 basis points to 4.326%. Asia-Pacific markets traded higher Thursday, breaking ranks with Wall Street that fell overnight as a stronger-than-expected U.S. inflation reading diminished prospects of policy easing by the U.S. Federal Reserve. Australia’s S&P/ASX 200 hit a record intraday high of 8,575.2, surpassing its previous peak of 8,566.9 scaled on Jan. 31. The index, however, pared gains to trade flat, closing at 8540. Japan’s Nikkei 225 rose 1.28% to close at 39,461.47 while the Topix climbed 1.18% to close at 2,765.59. South Korea’s Kospi traded 1.36% higher to end off at 2,583.17 for the day, while the small-cap Kosdaq rose 0.55% to close at 749.28. Hong Kong’s Hang Seng Index climbed 0.42% as of the last hour of trade, while mainland China’s CSI 300 slipped 0.38% to close at 3,905.14. Oil prices fell more than 1% on Thursday as a potential peace deal between Russia and Ukraine continued to exert downward pressure, along with rising crude inventories in the United States. Brent futures were down 86 cents or 1.14%, at $74.32 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped 79 cents, or 1.11%, to $70.58. Gold rose on Thursday, supported by a weaker U.S. dollar and growing worries over U.S. President Donald Trump’s tariff plans, which could heighten global trade tensions. Spot gold added 0.3% to $2,913.38 per ounce, moving back towards its record peak of $2,942.70 hit on Tuesday. U.S. gold futures firmed 0.4% to $2,940.90.