Stock futures climbed Thursday morning as traders digested the latest batch of economic reports. Futures tied to the Dow Jones Industrial Average added 87 points or 0.25%. S&P 500 futures ticked up 0.3%, while Nasdaq 100 futures moved 0.26% higher. The August reading of the producer price index came in hotter than expected. It rose 0.7%, more than the 0.4% increase anticipated by economists polled by Dow Jones. However, excluding food and energy, core PPI increased 0.2%, in line with the estimate. Elsewhere, the European Central Bank hiked rates by an expected quarter percentage point Thursday but noted inflation is easing and could be near the end of its rate-hiking campaign. That follows the August reading of the consumer price index. The core CPI, which excludes food and energy, gained 0.3% from the prior month and 4.3% from 12 months earlier. That compares against estimates of 0.2% and 4.3%, respectively, according to economists polled by Dow Jones. Headline inflation increased 0.6% on a monthly basis and 3.7% from the prior year, while economists had called for 0.6% and 3.6%. The August CPI reading isn’t expected to change the Federal Reserve’s course at its policy meeting beginning Sept. 19. Fed funds futures pricing data from Wednesday shows a 97% likelihood of rates remaining unchanged next week, according to the CME FedWatch Tool. Even if the central bank holds steady on rates this time, markets will likely continue to be volatile in the coming months. Indeed, fed funds futures pricing data shows a roughly 40% probability that rates will rise at the November meeting. “We believe volatility will be with us through year-end as the risk-on assets that dragged the market higher through 2023 will begin to look expensive in the face of elevated yields,” said Alex McGrath, chief investment officer at NorthEnd Private Wealth. Adobe is expected to post quarterly results after the market close Thursday. U.S. Treasury yields advanced on Thursday following new data showing wholesale inflation rose more than expected. The yield on the 10-year Treasury was up more than 3 basis points to 4.28%. The 2-year Treasury rose by more than 4 basis points 5.026%. Asia-Pacific markets mostly rose even as inflation in the U.S. inflation rate in August came in hotter than expected, at 3.7% compared to economists’ expectations of 3.6% in a Dow Jones survey. In Australia, the S&P/ASX 200 rose 0.46%, closing at 7,186.5 as unemployment numbers in August held steady at 3.7%, matching analysts’ forecasts. Japan’s Nikkei 225 was 1.41% up and ended at 33,168.1, breaking above the 33,000 mark for the second time in over two months. The Topix saw a smaller gain of 1.13% and finished at 2,405.57, reaching a new 33-year high. South Korea’s Kospi advanced 1.51% to close at 2,572.89 and the Kosdaq was 1.61% higher at 899.47, snapping a three-day losing streak. Hong Kong’s Hang Seng index rose 0.45% in its final hour of trade, while mainland Chinese markets were in negative territory, with the CSI 300 down 0.08% and ending at 3,733.5 to mark a third straight day of losses. Oil prices jumped on Thursday, with U.S. crude topping $90 a barrel, as expectations of a tighter supply grew. West Texas Intermediate crude (WTI) gained 1.6% to reach a high of $90.04 per barrel, touching its highest level since November 2022. Brent crude was up 1.5%, at $93.23, reaching a 10-month high. WTI crude last traded at $89.91 a barrel. Gold held its ground on Thursday near three-week lows ahead of an interest rate decision by the European Central Bank as well as U.S. economic data that could provide clues on the monetary policy outlook. Spot gold was flat at $1,906.29 per ounce, after touching its lowest level since Aug. 25 at $1,904.93. U.S. gold futures fell 0.3% to $1,927.60.