Nasdaq, S&P 500, Dow Futures Rebound Ahead Of PPI Data Even As Iran Tensions Simmer: Why ORCL, CRWV, ADBE, BATL, MU, ADTX Are In Focus

Stocktwits data showed retail traders have turned cautious, with sentiment dipping to ‘bearish’ on SPY and ‘neutral’ on QQQ.

• Traders are watching May's Producer Price Index (PPI), weekly jobless claims, and Adobe earnings later today. 
• Crude oil prices edged higher after the United States launched another round of strikes against Iranian targets. 
• Oracle dipped 9% in early premarket trade on AI spending concerns, while memory and storage stocks rebounded after SK Hynix said it plans to triple wafer capacity by 2034 to meet soaring AI demand. 

U.S. stock futures rebounded early Thursday after escalating geopolitical tensions in the Middle East weighed on sentiment the previous session. Investors are assessing the fresh rounds of military exchanges between the U.S. and Iran, while awaiting the Producer Price Index (PPI) report and initial jobless claims data later in the day. 

Meanwhile, Kuwait closed its airspace, and Israel warned of rocket launches from Lebanon. Oil prices edged higher amid the friction. Keep an eye on oil stocks such as BATL, TPET, and EONR in trade today. 

As of 4:00 a.m. ET on Thursday: Nasdaq and Russell 2000 futures rose 1%, S&P 500 futures were up 0.6%.

Retail sentiment for the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, has dipped to ‘bearish from ‘bullish’ territory earlier in the week, while the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq-100 Index, has moved to ‘neutral’ from ‘bullish’.

Trending Stocks To Watch

Oracle (ORCL) stock fell 9% in early premarket trading as caution prevailed amid concerns about its massive AI infrastructure cash burn, with projected fiscal 2027 capex of $70 billion. 

Coreweave Inc (CRWV): The AI cloud provider announced a private offering of $3.5 billion in senior notes due in 2032 to bankroll its growing infrastructure footprint. 

Memory and storage stocks (MU, WDC, STX) rebounded in early trade from initial Iran-related jitters. SK Hynix has announced a long-term plan to triple its wafer capacity by 2034 to support AI computing demand. 

Adobe (ADBE) gears up to report quarterly earnings tonight after the closing bell. 

Microsoft (MSFT): The Xbox division is reportedly planning to implement sweeping layoffs in July and slash marketing budgets. 

OpenAI reportedly plans to cut prices for paid access to its AI models to preempt rival Anthropic. OpenAI CEO Sam Altman is also reportedly heading to South Korea next week to coordinate on AI infrastructure with Samsung. 

SpaceX (SPACZZX): New Street Research initiated coverage with a bullish $165 target price ahead of its imminent IPO. Also, Elon Musk is expected to discuss his "Terafab" chip facility via an event with ASML today. 

Meanwhile, other space stocks such as AST Spacemobile (ASTS), Intuitive Machines (LUNR), and Rocket Lab (RKLB) rose 5% in early premarket trade after Elon Musk endorsed an analysis detailing how Starship will slash deployment costs, which is a major tailwind for firms relying on SpaceX launch systems. 

U.S.-listed shares of Chinese e-commerce players (BABA, JD, PDD) were under pressure in early trade on news that Beijing is targeting "misleading ads" and aggressive price-cutting campaigns. 

Aditxt (ADTX) shares soared over 90% in early premarket trade after the company revealed a path for its Ignite subsidiary to become a standalone publicly traded company through a merger with Copley Acquisition. 

PureCycle Technologies (PCT) fell 6% in early premarket trade after pricing its concurrent $145 million public offering of convertible senior notes and common stock through Lucid Capital Markets. 

Other tickers trending on Stocktwits at the time of writing included Trump Media and Technology (DJT), Duolingo (DUOL), GE Vernova (GEV), and Rumble (RUM)

Other Catalysts To Watch

On the economic front, investors are tracking the release of the Producer Price Index (PPI) and Initial Jobless Claims.

On earnings radar, watch out for quarterly reports from Aurora Cannabis (ACB), Lennar Corp (LEN), RH, and McGraw-Hill (MH), among others, today. 

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