5 Things to Know Before the Stock Market Opens

U.S. stock futures pointed higher before the June 11 open as investors weighed a busy day of market-moving catalysts. Nasdaq futures were up about 1.3%, while S&P 500 and Dow futures also gained.

Oracle selloff keeps AI spending in focus

Oracle shares fell in premarket trading after the company reported earnings that beat expectations but drew investor concern over the scale of its AI-related capital spending and financing plans.

The company’s results were strong on the surface, but traders appeared to focus more on how Oracle intends to fund the buildout. The reaction has made Oracle one of the clearest examples of how investors are rewarding AI growth while still punishing signs of heavy spending.

Inflation data is the main macro test

The Bureau of Labor Statistics was scheduled to release the May Producer Price Index at 8:30 a.m. ET. Before the report, the market was expecting a 0.7% monthly increase after April’s 1.4% rise.

A hotter-than-expected reading could renew pressure on bond yields and risk assets by reinforcing concerns that inflation remains sticky. A softer print would give investors another reason to believe the Federal Reserve may have more room to ease policy later this year.

Adobe reports after the close

Adobe was set to report earnings after Thursday’s closing bell. Investors are watching the software company for signs of how it is navigating its CEO transition and the competitive pressure around AI features in creative software.

The report could also shape sentiment across other software names if Adobe’s guidance or commentary suggests that AI is changing demand, pricing power or margins in the sector.

Microsoft Xbox layoffs add to cost-cutting signals

The Verge reported that Microsoft’s Xbox division is preparing a major layoff round next month and that leadership has framed the move as a broader reset.

If confirmed, the cuts would add to signs of tighter cost discipline inside a major consumer tech business. They would also extend a broader pattern across the tech industry, where companies are still trimming staff even as they continue to spend heavily on AI and other strategic priorities.

What investors are watching next

For the morning session, traders will be focused first on the PPI release and any reaction in rates and futures.

Later in the day, attention will shift to Oracle follow-through in the market and Adobe’s earnings after the close. Any official confirmation from Microsoft on the reported Xbox layoffs would also be closely watched.