Stock futures advanced on Thursday, following a significant decline in major indexes the previous day, as traders appeared to minimise the impact of the recent tensions between the U.S. and Iran. Meanwhile, Oracle shares experienced a decline due to higher-than-anticipated expenditures in data centers, while other stocks associated with AI saw an increase. Futures for the Nasdaq 100, S&P 500, and Dow Jones Industrial Average experienced increases of 1.2%, 0.8%, and 0.7%, respectively, in the latest trading session. Oracle shares sank 8% before the bell after the software and cloud-computing giant reported roughly $5 billion more in capital expenditures than expected, but damage did not spread to other tech stocks.

Super Micro Computer stock jumped 7% after sinking 28% Wednesday to lead S&P 500 decliners. Shares of fellow AI-tied firms Advanced Micro Devices, Marvell Technology, and Micron Technology advanced 2.5% to 4% after dropping roughly 5% apiece yesterday. Each of the Magnificent Seven firms indicated an upward trajectory before the market opened, following a day where all but Apple ended in the red. Tesla and Nvidia, which led the septet’s declines Wednesday at 3.8% and 3.7%, respectively, were up more than 1% apiece. Yesterday, the tech-focused Nasdaq Composite declined by 2%, while the blue-chip index experienced a drop of 1.9%. The benchmark S&P 500 also fell, down 1.6%. This downturn coincided with escalating tensions between the U.S. and Iran, alongside new inflation data that highlighted the impact of the conflict on prices.

Wednesday’s Consumer Price Index reading for May indicated a year-over-year price increase of 4.2%, marking the highest annual inflation rate observed in three years. Today, investors are anticipating the 8:30 a.m. release of the Producer Price Index data. Economists project that wholesale prices will have risen by 0.7% month-over-month in May, a decrease from 1.4% in April. When excluding the more volatile food and energy prices, the expected increase is 0.5%, down from 1%. The 10-year Treasury yield, a key determinant of interest rates on mortgages and various consumer loans, was approximately 4.53% prior to the reading, a decrease from Wednesday’s closing figure of around 4.56%.

Oil prices remained unfazed by the U.S.’s second consecutive day of “self-defence strikes” against Iran. West Texas Intermediate futures, the U.S. crude oil benchmark, were 0.8% lower at $89.30 a barrel in recent trading, while front-month contracts of Brent crude, the global benchmark, were 1% lower at $92.20. Bitcoin was trading around $62,800, reflecting an increase from overnight lows that dipped below $61,100. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, registered an increase of 0.2%, reaching 100.11. Gold futures fell 0.5% to $4,115 an ounce, marking their lowest point since November. They traded at an all-time high of $5,626.80 in late January.