US stock futures rose on Thursday, eyeing a recovery from Wall Street’s tech-fueled sell-offas investors waited for the latest reading on consumer inflation that could help set expectations for the path of interest rates.
S&P 500 futures (ES=F) moved up roughly 0.5%, while those on the Nasdaq 100 (NQ=F) gained 0.8%, looking to rebound after Oracle (ORCL)-propelled AI trade worries spurred another bruising session for tech. Meanwhile, Dow Jones Industrial Average futures (YM=F) put on 0.3%.
Wall Street is keeping watch for more signs of tech malaise after Oracle lost key backing for a $10 billion data center project, sending its stock tumbling Wednesday along with heavyweight names like Nvidia (NVDA) and Broadcom (AVGO), among others.
Meanwhile, markets are waiting for Thursday’s report on the consumer price index for November, originally scheduled for Dec. 10. But as with Tuesday’s monthly jobs report, the inflation data could be less reliable than normal thanks to the US government shutdown. For one thing, month-on-month comparisons will be missing, given the disruption to the collection of CPI data in October.
That will make it more difficult to gauge the momentum of inflation. At the same time, the Federal Reserve seems more attentive to cracks in the labor market than to price pressures. On Wednesday, Fed governor Chris Waller signaled support for rate cuts before the release of the CPI update.
In corporates, Trump Media & Technology Group (DJT, DJTWW) agreed to a $6 billion deal to merge with Tae Technologies, a fusion power group backed by Alphabet (GOOG, GOOGL) and Chevron (CVX). Shares in Trump Media, the home of the Truth Social platform, surged after the announcement, seen as a bet on AI-fueled energy demand.
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UK stocks flat after BOE cuts interest rates
Stocks on the London blue-chip index FTSE 100 (^FTSE) were flat on Thursday after the Bank of England cut interest rates to their lowest level in nearly three years.
The committee voted 5-4 to cut interest rates by 25 basis points to a rate of 3.75%, citing increased risks to the labor market and the expectation that inflation will fall toward its target more quickly. The four who voted against cutting rates preferred holding rates steady.
The central bank cut rates for the sixth time after the Federal Reserve also opted to lower interest rates last week to a range of 3.5% to 3.75%.
“We still think rates are on a gradual path downward,” BoE governor Andrew Bailey said. “But with every cut we make, how much further we go becomes a closer call.”
The central banks of Sweden and Norway decided to maintain their borrowing rates. The European Central Bank, which is scheduled to announce its decision today, is also expected to leave rates unchanged.
Good morning. Here’s what’s happening today.
Economic data: Initial jobless claims (week ended Dec. 13); Consumer price index (November); Philadelphia Federal Reserve business outlook (December); Kansas City Federal Reserve manufacturing activity, (December)
Earnings calendar: Accenture (ACN), NIKE (NKE), Cintas Corporation (CTAS), FedEx (FDX), HEICO Corporation (HEI), Darden Restaurants (DRI), FactSet Research Systems (FDS), Birkenstock (BIRK), CarMax (KMX), KB Home (KBH), BlackBerry Limited (BB), Scholastic Corporation (SCHL), FuelCell Energy (FCEL)
Here are some of the biggest stories you may have missed overnight and early this morning:
Read more here in the takeaway from today’s Morning Brief.
Trump Media, TAE Technologies to combine in $6B deal
Trump Media & Technology Group stock soared before the bell after announcing that it will combine with TAE Technologies Inc. (TATE.PVT) in an all-stock transaction valued at $6 billion, according to a statement from TAE on Thursday. DJT (DJT) stock rose over 25%% during premarket trading today following the news.
The deal will create the world’s first publicly traded fusion company.
Premarket trending tickers: Maplebear, Coinbase, Birkenstock, and Accenture
Maplebear Inc. (CART) stock fell 6% before the bell on Thursday following the news that rival DoorDash will be partnering with OpenAI to offer a grocery-shopping app within ChatGPT’s platform. Maplebear, which operates under the brand name Instacart, also launched its own app with OpenAI earlier this month.
Coinbase (COIN) stock rose 2% during premarket trading. The crypto exchange announced it will be rolling out stock trading and prediction markets on its app, placing it in direct competition with Robinhood.
Birkenstock (BIRK) stock fell 7% during premarket trading. The German shoemaker reported better-than-expected fourth quarter results but offered a cautious outlook for fiscal 2026, which fell short of analyst estimates.
Accenture (ACN) stock fell more than 3% before the bell today. The company beat Wall Street estimates for first quarter revenue; however, it faces uneven demand from the public sector and government clients.
Elliott said to build a $1 billion-plus stake in Lululemon
Shares of Lululemon (LULU) are rising in premarket after media reports of moves by activist investor Elliott.
Stock bulls have a worryingly long list of 2026 risks to ponder
US stocks will come up against a long list of potential stumbling blocks next year, according to Bloomberg, linked to risks around AI expectations; valuation and concentration; inflation and rates; geopolitics and trade, and a macroeconomic slowdown.
Micron jumps after forecasting blowout earnings on booming AI market
Micron shares jumped in after-hours trading Wednesday after the company forecast second-quarter profit to be nearly double what analysts projected. The results could also once again fortify faith in the AI trade after tech’s latest rocky stretch.
