U.S. equity futures advanced on Thursday as markets monitored developments in the conflict between the U.S. and Iran, higher oil prices and upcoming inflation data. Oracle (NYSE:ORCL) and Adobe (NASDAQ:ADBE) are also scheduled to report results after the closing bell.
At 03:02 ET (07:02 GMT), Dow futures gained 213 points, or 0.4%, while S&P 500 futures rose 18 points, or 0.2%. Nasdaq 100 futures were up 15 points, or 0.1%.
The gains followed declines for Wall Street’s main indices in the previous session as further military exchanges between the U.S. and Iran increased uncertainty surrounding the Strait of Hormuz.
Brent crude moved above $100 per barrel for the first time since July. Markets are also awaiting U.S. producer and consumer inflation figures scheduled for release this week.
U.S. Treasury yields increased, with the benchmark 10-year yield reaching 4.84%, its highest level since 2023. The move followed the increase in oil prices and news that the U.S. Treasury would repurchase fewer government bonds in its latest operation than some analysts had anticipated.
The S&P 500 recorded its third consecutive daily decline 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 introduced a foldable version of its iPhone priced at $1,999.
Trump Comments on Timing of Iran Conflict
U.S. President Donald Trump told supporters on Wednesday that he expects the conflict with Iran to end after the November midterm elections.
The comments came after recent exchanges of air strikes between the U.S. and Iran. The supplied information cited polling suggesting the conflict has affected Trump’s approval ratings and could influence Republican results in the midterm elections. Gasoline prices have also risen since the fighting began in late February.
Trump accused Tehran of attempting to influence the election.
An interim ceasefire agreement reached in June did not last, while Trump has previously set other deadlines for ending the conflict.
The Wall Street Journal reported that senior advisers have told Trump the conflict could continue through the remainder of his presidency, which is scheduled to end in January 2029.
Oracle Set to Report as AI Spending Remains in Focus
Oracle is due to publish its latest results after Thursday’s closing bell.
The company has previously outlined plans for increased spending and debt financing as it develops additional artificial intelligence infrastructure.
Oracle has entered into agreements with companies including Meta Platforms and OpenAI as part of its cloud and AI operations.
In June, Oracle said it expected to raise around $40 billion through debt and equity financing next year, compared with a previous $20 billion at-the-market equity issuance.
The company forecast fiscal 2027 capital expenditure of $95 billion. That compared with an analyst consensus estimate of $67.66 billion, according to LSEG data cited by Reuters.
Adobe Earnings Due After Closing Bell
Adobe is also scheduled to report results after U.S. markets close on Thursday.
The report will be the company’s first since the departure of Chief Financial Officer Dan Durn was announced in June. Chief Executive Shantanu Narayen also stepped down earlier in the year.
Adobe previously increased its annual revenue and profit forecasts. Its AI-related annual recurring revenue exceeded $500 million at the end of the second quarter.
The company continues to develop AI-related products while competing with design software providers including Figma and Canva.
ECB Expected to Raise Interest Rates
The European Central Bank is widely expected to increase interest rates following its latest policy meeting.
The decision comes against a backdrop of higher energy prices associated with the Middle East conflict. European natural gas prices have reached their highest levels since 2023.
According to the supplied information, markets had fully priced in a 25-basis-point rate increase.
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.”
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