US stock futures were little changed Thursday as investors combed through Federal Reserve minutes for clues to policymakers' thinking on the future path of interest rate hikes.
The July minutes were released on Wednesday and were seen as confirmation that the Fed will keep raising rates to cool down inflation. Policymakers' comments undermined hopes for a pivot to rate cuts in the near term.
The futures on the major US stock benchmarks were all green, with the S&P 500 up 0.05%, the Nasdaq 100 up 0.05% and the DOW Jones up 0.03%.
The US dollar index moved up to a three-week high of 106.72.
The minutes were in line with the market's thinking and lacked fresh impetus needed to bring up the pricing of Fed's rate hikes.
The 10-year US Treasury note's yield was close to 3%. The prices move with the yields.
After the head of the Organization of the Petroleum Exporting Countries said that global oil markets could face squeezed supply and persistent demand, the global benchmark crude oil rose 1.31% to trade at $949. US inventory data showed a big decline in gas and crude oil reserves.
The European stock markets were mostly positive. The STOXX 600 was up by a small margin.
The number of COVID-19 cases in the country rose to a three-month high, which led to a decline in Asian stock markets.
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