U.S. stock futures moved higher on Thursday as investors monitored developments in the U.S.-Iran conflict, oil prices and upcoming economic data, while Oracle (NYSE:ORCL) and Adobe (NASDAQ:ADBE) prepared to report earnings.
At 03:02 ET (07:02 GMT), Dow futures were up 213 points, or 0.4%, S&P 500 futures gained 18 points, or 0.2%, and Nasdaq 100 futures increased 15 points, or 0.1%.
Wall Street’s main indices declined in the previous session amid further military exchanges between the U.S. and Iran and uncertainty surrounding traffic through the Strait of Hormuz.
Brent crude moved above $100 a barrel for the first time since July. Investors are also awaiting U.S. producer and consumer inflation data this week.
U.S. Treasury yields increased, with the benchmark 10-year yield reaching 4.84%, its highest level since 2023. The move followed higher oil prices and an announcement that the U.S. Treasury would repurchase fewer government bonds in its latest operation than some analysts had expected.
The S&P 500 declined for a third consecutive session on Wednesday.
“So even though we’re just over a week into September, it’s already living up to its reputation as one of the toughest months of the year for markets,” Deutsche Bank analysts said in a note.
Apple (NASDAQ:AAPL) shares closed lower after the company unveiled a $1,999 foldable version of the iPhone.
Trump Says Iran Conflict Will End After Midterm Elections
U.S. President Donald Trump told supporters at a rally on Wednesday that the conflict with Iran would end after the U.S. midterm elections in November.
The U.S. and Iran have exchanged air strikes in recent days. The supplied information also cited polling indicating that the conflict has affected Trump’s approval ratings and could influence Republican performance in the midterm elections, while gasoline prices have increased since fighting began in late February.
Trump accused Iran of attempting to influence the election.
The president has previously set deadlines for ending the conflict, while an interim ceasefire agreed in June did not last.
The Wall Street Journal reported that Trump’s senior advisers have warned him that the conflict could continue through the remainder of his presidency, which is scheduled to end in January 2029.
Oracle Earnings Due After Market Close
Oracle is scheduled to report results after the U.S. market closes on Thursday.
The company has outlined plans to increase spending and debt financing as it expands its artificial intelligence infrastructure.
Oracle has secured agreements with companies including Meta Platforms and OpenAI as it develops its cloud and AI operations.
In June, Oracle said it expected to raise approximately $40 billion through a combination of debt and equity financing next year, compared with a previous $20 billion at-the-market equity issuance.
Capital expenditure for fiscal 2027 was forecast at $95 billion, compared with an analyst consensus estimate of $67.66 billion, according to LSEG data cited by Reuters.
Adobe Results Also Scheduled Thursday
Adobe (NASDAQ:ADBE) is also due to report earnings after U.S. markets close on Thursday.
The results will be its first since Chief Financial Officer Dan Durn’s departure was announced in June. Chief Executive Shantanu Narayen also stepped down earlier in the year.
Adobe previously raised its annual revenue and profit guidance. AI-related annual recurring revenue exceeded $500 million at the end of the second quarter.
The company is developing artificial intelligence products while competing with design software providers including Figma and Canva.
ECB Rate Decision in Focus
The European Central Bank is widely expected to raise interest rates following its latest policy meeting.
Energy prices have increased during the Middle East conflict, while European natural gas prices have reached their highest levels since 2023.
Markets had fully priced in a 25-basis-point increase from the ECB, according to the supplied information.
ING analysts described the expected move as an “insurance hike,” designed to “strengthen its credibility and to preempt any possible indirect or even second-round effects from the current energy price shock.”