US stock futures edged lower on Thursday, set to add to losses after a bruising session that dragged the blue-chip Dow and broad benchmark S&P 500 to their lowest levels of 2026, as investors grappled with mounting inflation concerns.
Futures tied to the Dow Jones Industrial Average (YM=F) pulled back 0.3%. Contracts on the S&P 500 (ES=F) and Nasdaq 100 (NQ=F) both declined about 0.2%.
Energy markets continue to drive unease amid escalating impacts of the Middle East war. Brent (BZ=F) crude futures surged past $115 a barrel after Iran and Israel exchanged strikes on some of the region’s most important energy hubs, raising fears of more serious damage than expected. Gains for West Texas Intermediate crude (CL=F) lagged as futures traded below $98.
Markets have been rattled by a hotter-than-expected producer price reading and rising inflation forecasts from the Federal Reserve. The shifting outlook has dampened expectations for monetary easing. While the Fed has indicated one rate cut could still be on the table this year, traders are betting policymakers will hold rates as they are — especially after hawkish comments from Fed Chair Jerome Powell.
Looking ahead, traders will focus on fresh economic data, including weekly jobless claims and the Philadelphia Fed Manufacturing Index, due Thursday.
On the corporate front, shares of Micron Technology (MU) fell more than 2% in extended trading, even after the chipmaker posted a sharp jump in quarterly revenue driven by tight memory supply. Alibaba (BABA) and FedEx (FDX) are slated to report earnings before the opening bell on Thursday.
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