U.S. stock futures mixed after S&P 500’s marginal record close.

July producer price index rises 0.9% MoM — biggest jump since June 2022.

Intel shares surge over 7% on reports of possible U.S. government stake.

U.S. stock index futures were mixed on Thursday evening after the S&P 500 eked out another record close, as hotter-than-expected producer inflation data dampened hopes for aggressive Federal Reserve easing next month.

By 20:10 ET (00:10 GMT), Dow Jones Futures rose 0.4% to 45,154.0 points, S&P 500 Futures were flat at 6,491.0 points, and Nasdaq 100 Futures fell 0.2% to 23,891.75 points.

Wall Street Ends Flat; Intel Jumps on Gov’t Stake Report
During Thursday’s session, the S&P 500 closed marginally higher, while the Nasdaq Composite and Dow Jones Industrial Average were largely unchanged. Intel (NASDAQ: INTC) surged over 7% following a Bloomberg report that the Trump administration is considering taking a stake in the chipmaker to strengthen U.S. manufacturing and support its delayed Ohio facility. The news comes a week after President Donald Trump publicly called for Intel CEO Lip-Bu Tan’s resignation.

PPI Cools Rate Cut Hopes
July’s producer price index (PPI) for final demand rose 0.9% month-over-month — the largest increase since June 2022 — and 3.3% year-over-year, surpassing economists’ forecasts of 0.2% and 2.5%. The data pushed Treasury yields higher and tempered market expectations for a larger rate cut in September. While traders still anticipate a rate reduction, odds of a half-point cut have dropped sharply.

Markets are now awaiting Friday’s import prices, along with upcoming retail sales, industrial production, and consumer sentiment data. ING analysts noted that sustained high import prices could indicate U.S. companies are bearing tariff costs, potentially passing them to consumers and fueling inflation.

Earnings Movers
Deere & Company (NYSE: DE) fell nearly 7% after lowering its full-year profit outlook. Tapestry Inc. (NYSE: TPR) plunged over 15% on disappointing earnings guidance. Birkenstock (NYSE: BIRK) ended lower despite beating profit forecasts, citing pressure from elevated U.S. tariffs on EU goods.