U.S. stock futures pointed higher on Thursday morning as oil prices pulled back slightly and Treasury yields cooled, giving markets a bit of breathing room after three straight days of losses.
S&P 500 futures rose 0.2%, Dow futures gained 0.4%, and Nasdaq 100 futures were nearly flat. The small gains came after a rough stretch driven by rising energy prices and bond yields.
Brent crude topped $100 a barrel earlier this week for the first time since July, raising fears that higher energy costs could push inflation higher. On Thursday, Brent dipped slightly to around $100.50, offering some relief.
The rise in oil prices has been tied largely to ongoing military conflict between the U.S. and Iran. The fighting, which began in late February following a joint U.S. and Israeli assault, has raised concerns about a prolonged closure of the Strait of Hormuz, a critical shipping lane.
President Donald Trump told supporters at a Wednesday rally that the conflict with Iran would wrap up after November’s midterm elections. He stopped short of explaining how.
🚨🇺🇸🇮🇷 BOMBSHELL: Trump's own advisers have told him privately the Iran war could run past Inauguration Day 2029
Vance, Rubio and others have raised it in the Oval Office and the Situation Room, warning Tehran can keep absorbing the blockade, U.S. officials say.
Trump told… pic.twitter.com/jlIcTw8778
— Mario Nawfal (@MarioNawfal) September 9, 2026
Trump has set deadlines before to end the war. A ceasefire signed in June did not hold. The Wall Street Journal reports that Trump’s advisers have warned the conflict could run through the end of his presidency in January 2029.
Polls show the war has hurt Trump’s approval ratings. Voters have been frustrated by sharp increases in gas prices since the fighting broke out.
Treasury yields also climbed this week, with the 10-year yield hitting 4.84%, its highest since October 2023. The Treasury planned to buy back $6 billion in bonds Thursday to try to bring long-term yields down. Yields fell slightly ahead of that move.
Two key inflation reports are due out this week. Producer price data comes Thursday morning and consumer price data follows Friday. If both come in hotter than expected, the odds of a Federal Reserve rate hike next week could rise from the current 60%.
Oracle reports after the closing bell Thursday. The company has been investing heavily in artificial intelligence infrastructure, securing deals with Meta Platforms and OpenAI. Oracle said earlier this year it plans to raise up to $40 billion in debt and equity, with capital spending forecast at $95 billion in fiscal 2027.
Adobe also reports Thursday evening. The company recently lost both its CEO and CFO, leaving its leadership in flux. Despite that, Adobe raised its full-year revenue and profit outlook. Its AI-focused annual recurring revenue passed $500 million at the end of the second quarter.
The European Central Bank is expected to raise interest rates by a quarter point Thursday. Analysts at ING called it an “insurance hike” aimed at keeping inflation in check amid rising energy costs across Europe, where gas prices have hit their highest level since 2023.
Apple shares fell Wednesday after the company unveiled a foldable iPhone priced at $1,999.
Deutsche Bank analysts noted that September is living up to its reputation as one of the harder months for markets.
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