Stocks Edge Higher Ahead of Key Inflation Data, Earnings Season

Stock futures trimmed gains as investors digested CPI inflation data that could impact Fed interest rate decision.

CPI rose 0.4% monthly and 3.7% annually in September, slightly above expectations. Core CPI rose 0.3% monthly, 4.1% annually.

Major indexes scored a fourth straight day of gains Wednesday despite hotter wholesale inflation data.

Earnings season kicks off Thursday with Delta, Walgreens reports. Banks report Friday, muted growth expected.

Oil prices erased drop after Russia, Saudi Arabia commit to extra output cuts. Market mood fragile amid Israel-Gaza tensions.