US stock futures nudged higher as investors awaited new producer price data and a speech from Fed Chair Jerome Powell, both of which could shape expectations for a potential December rate cut. Following mixed inflation data, markets remain optimistic about potential rate cuts, though Trump’s tax and tariff promises could rekindle inflationary pressures in 2024.

The dollar’s recent 2% rise continues to weigh on gold and emerging market currencies, while European stocks rose on positive forecasts from ASML Holding and Siemens. Meanwhile, the EU fined Meta $840 million over anti-competitive practices, and Cisco and Nu Holdings faced premarket losses on cautious earnings reports.