For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Trade Desk falls on downbeat Q1 revenue forecast
Deere falls after missing quarterly revenue estimates
Futures up: Dow 0.18%, S&P 500 0.12%, Nasdaq 0.25%
Updates prices before markets open
By Shashwat Chauhan and Sukriti Gupta
Feb 13 (Reuters) - Wall Street's main indexes were on track to open slightly higher on Thursday as investors parsed the latest producer prices data, while the prospect of Russia-Ukraine peace talks spurred some risk-taking.
The producer price index for final demand rose 0.4% last month after an upwardly revised 0.5% gain in December, the Labor Department's Bureau of Labor Statistics said.
Economists polled by Reuters had forecast the PPI rising 0.3%. In the 12 months through January, the PPI advanced 3.5% after increasing 3.3% in December.
"The revisions indicated higher inflation in the past, which make today's unexpectedly high inflation number look small in comparison," said Kim Forrest, chief investment officer at Bokeh Capital Partners.
Yields across government bonds also turned lower after the data, with the yield on the 10-year note US10YT=RR last at 4.56%.
Before the report, traders of futures contracts that settle to the federal funds rate placed close to a 60% chance that the Fed would still be on hold in July, although that chance fell to about 52% after the data.
Separately, data showed the number of Americans filing new applications for unemployment benefits was 213,000 for the week ended February 8, compared with an estimate of 215,000, according to economists polled by Reuters.
A January consumer price index reading on Wednesday showed the highest increase in prices in nearly a year-and-a-half, underscoring the U.S. Federal Reserve's messaging that it was in no rush to resume cutting interest rates anytime soon.
The last reading of the personal consumption expenditures price index, the Fed's preferred inflation gauge, showed the fastest rise in months. Persistent signs of rising inflation could mean the central bank's policymakers will be cautious about cutting rates at all this year.
Meanwhile, Trump said Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy had expressed a desire for peace in separate phone conversations with him on Wednesday.
He also said in a post on his Truth Social social media platform that he will announce tariffs at 1 p.m.
At 08:53 a.m. ET, Dow E-minis 1YMcv1 were up 79 points, or 0.18%, S&P 500 E-minis EScv1 were up 7.25 points, or 0.12%, and Nasdaq 100 E-minis NQcv1 were up 53.75 points, or 0.25%.
Megacap were mixed, although Tesla TSLA.O outperformed with an 3.1% rise.
Trade Desk TTD.O dropped 29.8% after the ad tech firm forecast its first-quarter revenue below analysts' estimates.
Reddit RDDT.N shed 7.4% after the social media platform missed market estimates for daily active unique visitors in the fourth quarter.
Cisco Systems CSCO.O added 5.9% after the network-equipment maker raised its annual revenue forecast, while Robinhood Markets HOOD.O jumped 12.2% after the trading platform beat fourth-quarter profit expectations.
Deere DE.N fell 5% after the world's largest farm-equipment maker's quarterly revenue slumped 35% and missed analysts' expectations.
(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Pooja Desai)
((Shashwat.Chauhan@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.