On Thursday morning, the price of stock futures barely changed as traders anticipated the results of the biggest U.S. banks.

Futures for the Dow Jones Industrial Average fell 11 points or 0.04 percent. The Nasdaq 100 futures were down 0.13 percent and S&P 500 futures were slightly lower.

After June inflation data came in hotter than anticipated, hitting its highest level since 1981, and fueling concerns that the Federal Reserve may need to raise interest rates more forcefully in the coming months to slow price increases, stocks declined on Wednesday.

In June, the consumer price index increased by 9.1% over the previous year, exceeding economists’ expectations of an increase of 8.8%. Core CPI, which excludes volatile food and energy costs, was 5.9 percent, exceeding the estimate of 5.7 percent.

In addition, the Fed’s Beige Book, published on Wednesday, revealed concerns about an impending recession in the context of high inflation.

Treasury prices were also impacted by the CPI report; the yield on the 2-year Treasury increased by nine basis points to around 3.138 percent, while the yield on the 10-year Treasury decreased by four basis points to approximately 2.919. A common indicator of a recession is the inversion of the two.

Dan Nathan, principal of Risk Reversal Advisors, stated on CNBC’s “Fast Money” that if the Fed says “everything’s on the table,” suddenly you have to start pricing in a recession.

JPMorgan Chase and Morgan Stanley are slated to report before the bell on Thursday, continuing the earnings season.

Thursday will also see the release of the June producer pricing index report, which gauges the prices paid to producers of goods and services, as well as the weekly claims for unemployment insurance. Both studies will provide more information about the economy.