Wall Street futures rise as tech rebound and Iran talks ease market pressure

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Wall Street futures rise on tech

Highlights

Nvidia, Intel, and Micron Technology gain between 1.2% and 4.7% premarket as Dow, S&P 500, and Nasdaq 100 E-minis each rise over 0.7%.
Easing oil concerns follow U.S.-Iran political talks and potential reopening of the Strait of Hormuz, pushing oil prices lower and reducing market pressure.
Oracle drops 7% on higher-than-expected fiscal 2027 capital spending projections, while Navan surges 17.6% after raising full-year revenue and operating income forecasts.

Tech stocks rebound amid easing oil concerns

As reported by Reuters, chipmakers recover in premarket trading after Wednesday's broad decline, with Nvidia, Intel and Micron Technology gaining between 1.2% and 4.7%. At 06:22 a.m. ET, Dow E-minis are up 367 points, or 0.73%, S&P 500 E-minis gain 53.75 points, or 0.74%, and Nasdaq 100 E-minis climb 338.75 points, or 1.19%.

The United States and Iran trade air attacks on Thursday, but three Iranian sources and a European official say the two countries are exchanging messages on details of a memorandum after reaching a political understanding. Expectations that talks to reopen the Strait of Hormuz remain on track help push oil prices lower.

The S&P 500 has dropped about 4% since reaching a record closing high in early June, as investors grapple with elevated technology valuations and tighter monetary policy concerns. The Middle East conflict also keeps pressure on energy prices and inflation expectations.

Data, Fed outlook and company movers in focus

Investors are also watching the monthly U.S. producer prices report and weekly jobless claims, due at 8:30 a.m. ET, for further signals on the Federal Reserve's policy path ahead of next week's meeting. Data released on Wednesday show U.S. consumer inflation rises at its fastest pace in three years in May, driven by surging energy prices tied to the Middle East conflict.

The highly anticipated Friday market debut of Elon Musk's SpaceX, set to be valued at $1.75 trillion, could also test the rally that has repeatedly lifted stocks to record levels this year. Among individual movers, Oracle shares fall 7% after the company projects fiscal 2027 capital spending above Wall Street estimates, highlighting the heavy investment needed to expand AI infrastructure.

Navan shares jump 17.6% after the corporate travel booking agency raises its full-year revenue and operating income forecasts on Wednesday, citing strong business travel demand and growth in its enterprise customer base.

In our earlier report on U.S. stock futures after fresh U.S. strikes on Iran, we noted that equity sentiment stayed relatively resilient despite rising geopolitical risk. The article highlighted how swings in oil prices tied to Strait of Hormuz tensions fed into inflation concerns and expectations that the Federal Reserve could keep policy tight, while investors also weighed tech valuations and major catalysts such as Oracle’s AI spending and SpaceX’s anticipated debut.

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