0856 ET - U.S. stock futures are moving higher following July inflation data that came in as expected. The CPI was up 0.1% month-over-month and up 3.4% year-over-year, the core rate also came in as expected at 2.5% year-over-year. The inflation data follows a weaker-than-expected July jobs report last week showing payrolls falling by 23,000, and might give Fed policy makers some breathing room on the question of whether to raise rates when they meet next month. S&P futures are up 39 points.
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