8/10, 10:13 AM (Source: TeleTrader)
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Wall Street higher premarket ahead of inflation data

Major stocks on Wall Street were higher in the premarket session on Wednesday as investors anticipated data on the country's consumer price index (CPI), which will influence the Federal Reserve's decision on future rate hikes as it seeks to lower inflation.

Market participants will also receive updates on mortgage applications and wholesale inventories in the country. Crude oil prices fell earlier after the US revealed that its oil inventories had increased. On the earnings front, the Walt Disney Company and the Fox Corporation will release their quarterly financial reports later today.

The Dow Jones Industrial Average gained 0.11% at 4:12 am ET. At the same time. the Nasdaq 100 and the S&P 500 rose 0.14% and 0.08% respectively. The euro lost 0.11% against the American dollar, going for $1.02037 at 4:07 am ET.

Baha Breaking News (BBN) / AB