Here are the most important news items that investors need to start their trading day:
1. Positive reaction
Stock futures were higher following another encouraging inflation report. Dow Jones Industrial Average futures increased more than 100 points, or 0.6%. S&P 500 futures and those tied to the Nasdaq-100 rose 0.6% and 0.9%, respectively. The positive reaction came after another down day on Wall Street Wednesday and as investors continue to watch this quarter's earnings reports. Follow live market updates.
2. Inflation data
Thursday's consumer price index report showed prices increasing at a slower pace than analysts expected. July consumer prices rose 3.2% on an annual basis in July, less than the 3.3% consensus from economists polled by Dow Jones. That puts the annual rate at its lowest level since March 2021. Prices accelerated 0.2% for the month, which was in line with expectations. The 3.2% reading is a drastic change from the 8.5% annual rate that the CPI registered at the same time a year ago. But that might not be enough for the Federal Reserve to pull back its fight against inflation.
3. Disney cracks down
Disney announced Wednesday that it would raise the price of almost all of its streaming options starting in October, as well as cracking down on password sharing. The ad-free version of Disney+ will go up 27% to $13.99 per month, while the price of Hulu without ads will jump 20%, to $17.99 per month. The hikes come as Disney looks to accelerate profitability for the business. The company reported mixed results for its fiscal third quarter amid ongoing subscriber losses and falling revenue. Still, its stock was up 1.4% Thursday morning after announcing the streaming changes.
4. Roblox rocked
Roblox stock sank more than 20% Wednesday after the company reported second-quarter earnings that fell short of analysts' expectations. Roblox reported a loss of 46 cents per share for the quarter vs. an expected loss of 45 cents. The company also logged revenue, or bookings, of $781 million vs. $785 million expected. Roblox generates revenue from sales of its virtual currency called Robux, which players use to dress up their avatars and buy other premium in-game features.
5. Electric dreams
GM on Wednesday unveiled an all-electric version of its Cadillac Escalade. The luxury SUV is expected to retail late next summer starting at around $130,000 and has a 55-inch LED screen on its dashboard. The 2025 Cadillac Escalade IQ also has an estimated mile range higher than any GM EV to date, at 450 miles. It's the first traditional Cadillac model to be released as an electric vehicle, a key move as GM positions Cadillac to be its luxury EV brand.
— CNBC's Samantha Subin, Sarah Whitten, Alex Sherman, Lillian Rizzo, Jeff Cox, Ashley Capoot and Michael Wayland contributed to this report.
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