Futures rose 0.6% following an overnight 3% drop in WTI crude, which was attributed to reports of potential diplomatic discussions between Gulf states and Iran, although the decline may not persist given recent Houthi control of parts of the Red Sea and attacks on Saudi infrastructure.

The market awaits August CPI data to assess economic conditions, with bond yields remaining near three-year highs despite slight decreases. Individual stocks showed mixed results, including a 7% premarket gain for ORCL due to strong AI cloud backlog and a plan by MSFT to expand data center capacity.