U.S. stock futures moved higher early Thursday after Washington announced the completion of its latest military strikes against Iran, although concerns remained elevated as Gulf nations reported renewed hostile activity from Tehran.
S&P 500 futures climbed 0.4%, while Nasdaq 100 futures gained 0.6%. Futures linked to the Dow Jones Industrial Average advanced by 110 points, or 0.2%.
Asian markets, however, opened under pressure. South Korea’s Kospi led regional declines with a 4.1% drop, while Japan’s Nikkei 225 fell 2.3% and Australia’s S&P/ASX 200 lost nearly 1%.
In corporate news, Oracle shares plunged more than 11% in after-hours trading after the company revealed plans to raise an additional $20 billion through debt and equity financing to support its expanding artificial intelligence investments. The move weighed on technology sentiment and pressured software-related stocks.
Meanwhile, U.S. Central Command confirmed additional "self-defense" strikes against Iranian targets late Wednesday, carried out under the direction of President Donald Trump. Oil prices reacted sharply, with West Texas Intermediate crude rising nearly 3% to around $92 per barrel.
The broader market struggled during Wednesday’s session as investors faced renewed selling in semiconductor stocks and mounting geopolitical uncertainty. The Dow Jones Industrial Average dropped 953 points, or 1.87%, while the S&P 500 fell 1.62%. The Nasdaq Composite declined 1.98%.
According to Victoria Fernandez, Chief Market Strategist at Crossmark Global Investments, investors are increasingly rotating away from the artificial intelligence-driven rally that dominated much of the year. Capital flows have been shifting toward sectors such as healthcare, biotechnology, financials, and energy.
Adding to market uncertainty, the fragile diplomatic situation between the U.S. and Iran deteriorated further after President Trump criticized Tehran for delaying negotiations and warned that additional military action could follow if progress is not made.
Investors are now focused on key economic data due later Thursday, including the Producer Price Index (PPI) and weekly jobless claims. Economists expect wholesale inflation to rise 0.7% month-over-month in May, with core PPI forecast to increase 0.5%, both lower than April's readings. The reports could provide fresh clues about inflation trends and the Federal Reserve's next policy moves.
