Stock futures slip as inflation data looms; Snowflake jumps on earnings

Stock futures declined in early Thursday overnight trading. Dow Jones futures, S&P 500 futures, and Nasdaq futures all moved lower. Oil prices ticked upward during the session.

Two tech companies posted notable moves in premarket activity. Marvell Technology (MRVL) rose slightly on earnings results. Snowflake (SNOW) surged on its quarterly report.

Investors are watching for the Federal Reserve's core PCE price index, the Fed's preferred inflation gauge. The report is due before the market opens Thursday. This data often influences Fed policy decisions on interest rates.

The major stock indexes finished Wednesday slightly higher, staying near record levels as traders weighed corporate earnings against economic data.

The market's direction Thursday will likely depend on what the inflation report shows and how traders interpret it for future monetary policy.