U.S. Stock Futures Decline Amid Rising Oil Prices Ahead of Key Inflation Data
U.S. stock futures fell on Thursday as rising oil prices and bond yields weighed on investor sentiment ahead of key economic data releases, including the Producer Price Index (PPI) for August. Brent crude climbed above $103 a barrel while WTI crude rose past $99 due to escalating tensions between the U.S. and Iran over energy flows in the Middle East. The 10-year Treasury yield increased four basis points to 4.88%, reflecting growing inflation concerns linked to higher oil prices. Market participants are also preparing for Oracle's upcoming earnings report, with attention on how rising costs may impact corporate performance across sectors like AI and technology infrastructure. In pre-market trading, the Nasdaq 100 futures underperformed as chipmakers and AI stocks declined. Several major companies saw sharp declines in early trade due to disappointing financial updates or guidance.
