The Rally Continues: S&P 500, Nasdaq Futures Trading Higher Following Great Day For Markets On Wednesday

S&P 500 and Nasdaq futures were trading higher Thursday morning by about .5% following a great day for stocks on Wednesday.

On Wednesday morning before the open, all eyes were on the CPI print for July. The number came in lower than expected, convincing some traders the Fed will be able to turn more dovish sooner than initially thought. 

Gasoline prices continued to drop on Thursday, with AAA reporting the national average price for a gallon of gasoline is less than $4. This is the first time since March that the national average is sub-$4. 

The Nasdaq has officially entered bull market territory, rising more than 20% from its recent low in June. In comparison, the S&P 500 is up about 15%. 

Disney reported earnings after the close Wednesday, beating revenue expectations as well as beating its expected subscriber count for Disney+. Disney shares are trading higher by nearly 10% Thursday morning, up to around $122 a share. The stock hit a low of around $92 in July. 

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