S&P futures experienced an uptick on Thursday as market participants positioned themselves in anticipation of inflation data, which may serve as a significant catalyst for market movements. Futures associated with the S&P 500 experienced an increase of 0.4%, whereas Nasdaq 100 futures saw a rise of 0.7%. Futures associated with the Dow Jones Industrial Average increased by 67 points, representing a 0.2% rise. Micron Technology experienced a 10% increase in premarket trading following its fiscal first quarter results, which surpassed market expectations on both revenue and earnings. The company also provided an optimistic revenue outlook for the upcoming period.

Market participants are anticipating the forthcoming release of the consumer price index for November, scheduled for Thursday morning. The forthcoming consumer inflation report will be the first released to the public following the conclusion of the U.S. government shutdown last month. Economists anticipate that headline inflation increased at a rate of 3.1% on a year-over-year basis. Equities are emerging from a challenging trading session, weighed down by significant declines in prominent semiconductor companies associated with the artificial intelligence sector. The S&P 500 and the 30-stock Dow concluded their fourth consecutive day in the red. The Nasdaq Composite underperformed relative to the other two major indices, declining by 1.8%.

During the regular trading session, Oracle experienced a decline of over 5% following a report from the Financial Times indicating that the cloud infrastructure firm’s main investor withdrew from its $10 billion Michigan data center project. Worries regarding the substantial capital expenditures associated with large-scale data center transactions, exemplified by Oracle’s recent activities, reverberated across the market, resulting in a correlated decline among various chip manufacturers during the trading session. Broadcom experienced a decline of 4.5%, with shares of Nvidia and Advanced Micro Devices also witnessing a downturn.

Despite a recent shift in investor focus away from technology stocks, the sector is projected to conclude 2025 with an approximate 19% increase. “Oracle’s challenging day contributes to the ongoing unease in the tech sector, yet it is crucial to adopt a broader perspective. Technology remains up 20% year-to-date and has recently experienced one of its most extended winning streaks on record,” stated Ryan Detrick. “The essential takeaway: a degree of inflation is being released, yet the broader market remains resilient when evaluating the circumstances.”