US pre-open: Futures rebound as semiconductors bounce back, crude pulls lower

11th Jun 2026 11:03

(Sharecast News) - Wall Street futures were in the green ahead of the bell on Thursday as chipmakers staged a rebound and oil prices eased, even after the US carried out further strikes against Iran overnight.

As of of 1250 BST, Dow Jones futures were up 0.73%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.67% and 1.08% firmer, respectively.

The Dow closed 953.33 points lower on Wednesday, as heightened geopolitical conflict in the Middle East and concerns about rising inflationary pressures hammered risk appetite.

However, Micron, AMD and Intel all advanced in pre‑market trade, with the sector's recovery coming as investors looked ahead to SpaceX's blockbuster debut on Friday. Some economists have suggested that recent chip weakness reflected portfolio reshuffling ahead of what will be the largest IPO on record at a valuation of around $1.8trn.

Tech sentiment was tempered, however, by a sharp drop in Oracle, which slid more than 9% in pre-market action after unveiling plans to raise a further $20bn in equity and debt to support its AI investment programme.

Oil prices slipped despite renewed geopolitical tension, with West Texas Intermediate crude easing 0.99% to $89.14 a barrel even as US Central Command said late on Wednesday that American forces had launched additional "self‑defence strikes" against Iran at the direction of Donald Trump.

Thursday's primary focus will likely be May's producer price index, scheduled for release at 1330 BST, with economists expecting to see wholesale inflation rise 0.7% on the month, while core PPI was seen 0.5% higher, easing from April's sharp 1.4% and 1% increases, respectively. Today's PPI reading follows yesterday's consumer price index, which showed that the annual rate of inflation jumped to 4.2% from 3.8% in April - its first reading above 4% since May 2023.

Elsewhere on the macro front, weekly jobless claims from the Labor Department will also be released at 1330 BST.

Adobe and Lennar were both slated to report earnings after the close.

Reporting by Iain Gilbert at Sharecast.com