Dow Futures indicate a subdued beginning to trading on Wall Street on Thursday, as investors focus on the latest U.S.-China trade discussions and a range of new inflation statistics. President Donald Trump has indicated a willingness to potentially prolong a 90-day deferment of his stringent “reciprocal” tariffs past the upcoming deadline early next month. Elsewhere, markets are awaiting May producer price figures, while Oracle raises its full-year revenue target, sending shares in the cloud-computing group spiking in extended hours trading. U.S. stock futures indicated a downward trajectory, as traders assessed a relatively mild consumer price index and observed indications of easing in the recent trade disputes between the United States and China. The Dow Futures contract experienced a decline of 106 points, representing a decrease of 0.3%. Similarly, S&P 500 futures fell by 13 points, or 0.2%, while Nasdaq 100 futures saw a reduction of 48 points, also reflecting a 0.2% drop.

On Wednesday, the benchmark S&P 500 and the tech-heavy Nasdaq Composite experienced a decline, whereas the blue-chip Dow Jones Industrial Average remained stable. Investors appeared to respond to a slower-than-expected indicator of consumer price growth in May with a restrained demeanor, as concerns lingered regarding the possible effects of Trump’s tariff policies. Markets appeared to be cautiously evaluating a framework agreement between Washington and Beijing aimed at resuming their delicate trade truce. Trump characterized the deal as “great,” yet analysts noted that the announcement lacked numerous concrete details and may have left the possibility for a future escalation in tensions between the world’s two largest economies.

Sentiment experienced a decline following media reports indicating that the U.S. is making preparations for a partial evacuation of its embassy in Iran. An official from Tehran previously indicated that strikes on U.S. bases in the region would be executed should the ongoing nuclear negotiations fail and a conflict with the U.S. arises. Meanwhile, Trump has suggested a potential extension of the delay on his elevated “reciprocal” levies affecting most countries, indicating that negotiations on tailored trade agreements are currently in progress with 15 nations.

In remarks to the press on Wednesday, Trump asserted that the White House was “rocking in terms of deals,” further indicating that “quite a few countries want to make a deal with us.” However, he emphasized that extending the postponement of his increased responsibilities beyond the current early July deadline is probably not a “necessity.” Trump indicated that the U.S. intends to dispatch letters to numerous nations in the forthcoming weeks, outlining the conditions of trade agreements, emphasizing that these countries will subsequently need to decide whether to “take it, or leave it.”

The president suspended the rollout of his most extensive tariffs in April, aiming to provide negotiators with the necessary time to finalize a set of agreements. However, with the 90-day halt set to conclude on July 8, the U.S. has secured only one trade agreement with Britain, while discussions are ongoing for 17 additional deals. Attention is now directed towards an upcoming data release that monitors growth in U.S. producer prices, as market participants remain cautious about potential signals that Trump’s tariffs might be contributing to inflationary pressures.

Analysts projected that the producer price index for final demand increased by 0.2% month-over-month in May, following a decline of 0.5% in the previous month. In the twelve months leading up to May, the measure is projected to accelerate to 2.6%, an increase from the previous 2.4%. In April, wholesale services prices experienced a decline of 0.7% — marking the most significant decrease since the government initiated monitoring of these figures in December 2009. The decline in prices for hotel and motel rooms is particularly noteworthy, as it indicates a retreat in tourist travel. Analysts have suggested that this trend may be linked to a backlash against Trump’s policies since his return to office.

Accommodations, airline fares, and portfolio management fees are essential components that contribute to an inflation measure favored by Federal Reserve interest-rate policymakers. On Wednesday, a distinct data set from the Labor Department indicated that consumer prices rose at a slower-than-expected rate in May, primarily due to declining gasoline prices offsetting a rise in rental costs.

Oracle experienced a notable increase in its share price during after-hours trading following the company’s upward revision of its annual revenue growth target. This adjustment underscores robust demand from clients seeking to leverage artificial intelligence capabilities. Oracle CEO Safra Catz informed investors during a post-earnings call on Wednesday that total revenue for its 2026 fiscal year is anticipated to reach a minimum of $67 billion, suggesting an annual growth rate of approximately 16.7%. The company had earlier projected a 15% increase.

Catz noted that its annual total cloud growth rate, which includes “applications plus infrastructure,” will also rise to over 40% from 24% in the 2025 fiscal year, bolstered mostly by solid returns from its Oracle Cloud Infrastructure solution business and clients’ need to support AI workloads. Analysts at Vital Knowledge characterized the outlook for Oracle’s growth as “amazing,” while noting that “meeting that demand is eating up a lot of cash” and leading to a heightened forecast for annual capital expenditures.

Oil prices experienced a decline, relinquishing a portion of the substantial gains observed in the prior session, as the United States sanctioned voluntary departures for military dependents in the Middle East, coinciding with escalating tensions with Iran. Brent futures experienced a decline of 1.3%, settling at $68.89 per barrel, while U.S. West Texas Intermediate crude futures decreased by 1.2%, reaching $67.33 per barrel. Both contracts experienced an increase of over 4% on Wednesday amid a volatile trading session, bolstered by advancements in U.S.-China trade negotiations. This development has alleviated concerns regarding demand, as the anticipated facilitation of trade is expected to enhance global economic activity and, consequently, crude demand. Wednesday’s spike indicates an increase in geopolitical risk, as investors are concerned that any conflict could potentially disrupt shipping routes or oil infrastructure throughout the Gulf.