U.S. stock futures traded mostly higher on Thursday, as investors looked to recover from a recent technology-driven downturn on Wall Street and awaited fresh figures on consumer inflation that could influence the future trajectory of interest rates.
As of 4:49 P.M. (GMT+7), S&P 500 futures rose 0.43%, or 28.70 points, to 6,750.20 points, while Nasdaq 100 futures gained 0.79%, or 195.50 points, to 24,843.10 points following a broad selloff triggered by concerns over AI-related trades, highlighted by Oracle’s recent struggles. Dow Jones Industrial Average futures also edged up by 0.12%, or 57.20 points, to 47,943.40 points.
Oracle’s loss of support for a proposed $10 billion data center project rattled tech sentiment, sending its shares sharply lower on Wednesday and dragging down major peers including Nvidia and Broadcom. The broader market has been closely watching for further signs of sector weakness.
Offering a possible counterpoint, Micron Technology posted earnings late Wednesday that suggested solid demand for artificial intelligence. The chipmaker, which supplies Nvidia, projected adjusted profit for the next quarter to almost double analyst estimates, propelling its shares higher in premarket trading.
Market attention is now fixed on Thursday’s consumer price index (CPI) report for November, originally slated for release on December 10. However, the accuracy of both the jobs and inflation numbers has been clouded by October’s U.S. government shutdown, leaving month-on-month comparisons unavailable and complicating any reading on the direction of inflation.
This uncertainty comes as the Federal Reserve appears increasingly focused on labor market developments rather than on inflation alone. Fed Governor Chris Waller indicated on Wednesday that he could support interest rate cuts even before reviewing the CPI update.
