By Noreen Burke
Investing.com -- U.S. stock futures were higher on Thursday, following strong gains in the previous session after softer-than-expected inflation data, while Disney shares jumped on a strong earnings report.
All three main indices on Wall Street rallied on Wednesday after signs of slowing inflation fanned hopes that the Federal Reserve may pivot to a slower pace of interest rate increases.
But comments by Fed policymakers following the release of the inflation figures dampened some market optimism.
The Fed is "far, far away from declaring victory" on inflation, Minneapolis Fed head Neel Kashkari said Wednesday. His comments were echoed by San Francisco Fed President Mary Daly who warned it is far too early to "declare victory," while Chicago Fed President Charles Evans said inflation was still "unacceptably" high.
Disney (NYSE: DIS ) shares surged higher after its third quarter results showed that it had taken the lead in the global streaming competition, edging past rival Netflix (NASDAQ: NFLX ) with a total of 221 million streaming customers.
The entertainment giant also lowered its long-term subscriber forecast for Disney+ customers to between 215 million and 245 million by the end of September 2024, blaming the loss of cricket rights in India. That is down from the 230 million to 260 million which it had been forecasting.
Oil prices were higher amid renewed concerns over the supply outlook following a report by the International Energy Agency.
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