Stock futures jump after lighter-than-expected CPI report

U.S. equity futures rose on Thursday as Wall Street weighed thelatest inflation data, which came in lighter-than-expected.

Futures linked to the SP 500advanced 0.7%, whileNasdaq 100 futuresadded 1.3%.Futures tied to the Dow Jones Industrial Averagegained 188 points, or 0.4%.

Micron Technologyjumped 13% in premarket trading after the semiconductor play topped Wall Street estimates onthe top and bottom linesfor the fiscal first quarter and offered a strong revenue forecast for the current period.

The delayed November consumer price index report thefirst one issued to the publicsince the U.S. government shutdown ended last month showed that the headline annual inflation rate was 2.7%, according to the Bureau of Labor Statistics. The 12-month rate for core CPI, which excludes food and energy, was 2.6%. Economists polled by Dow Jones had expected the rate for the headline measure and core CPI to come in at 3.1% and 3%, respectively.

The report, which didnt include month-over-month percent changes, was pushed back from its original release date of Dec. 10. The BLS hadcanceled the release of the October inflation reportin late November as a result of the longest-ever U.S. government shutdown.

Stocks are coming off of a rough trading session, pressured by sharp losses in leading semiconductor names tied to the artificial intelligence trade. TheSP 500and the 30-stockDowclosed out their fourth negative day. TheNasdaq Compositewas the laggard of the three major indices, losing 1.8%.

In the regular session, Oracle slid more than 5% after the Financial Timesreportedthat the cloud infrastructure companys primary investor pulled out of its $10 billion Michigan data center.

Concerns about the high capital costs behind massive data center deals, such as Oracles, sent shivers throughout the market and led several chipmakers to decline in sympathy throughout the session.Broadcomlost 4.5%, while shares ofNvidiaandAdvanced Micro Devicesalso fell.

Even as investors have been rotating away from tech names as of late, the sector is on pace to end 2025 with a roughly 19% advance.

Oracles bad day continues to add to the recent tech jitters, but its important to take a step back and consider that technology is still up 20% for the year and just had one of its longest win streaks in history, said Ryan Detrick, chief market strategist at Carson Group. The bottom line: some air is being let out of the balloon, but the overall market is hanging in all things considered.