Stock futures flat as S&P 500 and Nasdaq set records. Investors eye inflation data and Fed policy shift. Here's what we're watching.

NEW YORK (AP) — Most stocks fell on Wall Street Thursday after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. But gains for Amazon and some other influential Big Tech companies helped mask the losses.

The stock market cut losses but it wasn't enough to erase all of the early losses made on a hot inflation report.

In his 2023 letter to shareholders, Warren Buffett reminded Berkshire Hathaway investors that major market panics "won't happen often -- but they will happen." They are a fact of life in markets ultimately made up of humans -- humans prone to getting caught up in waves of "feverish activity" and "foolishness."

US stock futures hovered around the flatline as Wall Street awaited another pulse check on inflation after Tuesday's tepid figures sent rate-cut bets and markets soaring.

Jitters around shorter-dated Treasurys with a high sensitivity to any expected Federal Reserve moves on interest rates aren't likely to go away quickly. "With inflation perking up, all eyes will be on

Futures for the Dow Jones Industrial Average and other major stock indexes traded slightly lower Thursday as Wall Street awaited key inflation data, with the early release of the Producer Price Index.

US stock futures wavered amid increasing expectations that the Federal Reserve will cut interest rates at its next meeting, following the latest inflation data.