Key HighlightsU.S. equity futures climbed Friday morning following news that Iran and Oman were pursuing an agreement to reopen the Strait of Hormuz for commercial vesselsEconomists anticipate August CPI will show a 0.4% month-over-month increase and a 3.4% year-over-year climbOracle shares jumped 4.3% in extended trading after exceeding earnings projections and boosting its fiscal 2027 outlookMajor U.S. indices declined Thursday, marking their fourth consecutive session of losses amid surging crude prices and climbing bond yieldsTraders now assign a 66.7% probability to a Federal Reserve rate increase at the upcoming September 16 policy meetingStock futures showed modest gains Friday morning following a challenging trading week for U.S. equities. Market participants focused their attention on two critical developments: promising diplomatic efforts regarding key Middle Eastern waterways and an important inflation reading scheduled for release later today.Futures tied to the S&P 500 advanced 0.38%, while Nasdaq 100 futures increased 0.3% and Dow Jones futures added 0.4%. The uptick followed Thursday’s trading session, which extended a losing streak across all three major benchmarks to four consecutive days.E-Mini S&P 500 Sep 26 (ES=F)Fourth Consecutive Day of Market DeclinesThursday’s trading session saw the Dow Jones Industrial Average shed over 300 points, while both the S&P 500 and Nasdaq Composite declined approximately 0.6% to 0.7%. The week is shaping up to be particularly difficult for the Dow, which is tracking toward a 2.5% weekly loss.Energy markets played a pivotal role in Thursday’s downturn. West Texas Intermediate crude oil surged past the $100 per barrel threshold, reaching its highest point since May, as tensions between the United States and Iran extended into a seventh month.The ongoing confrontation saw U.S. naval forces sink five oil tankers in the Strait of Hormuz during the current week. This military action contributed to upward pressure on Treasury yields, with the benchmark 10-year note climbing above 4.95%—a level last observed in October 2023.Late Thursday, the Financial Times disclosed that Oman was coordinating a diplomatic gathering between Gulf nations and Iran aimed at establishing an agreement to resume commercial shipping operations through the Strait of Hormuz. The scheduled Monday meeting in Salalah, Oman, triggered a more than 1% decline in crude oil prices.Questions remain about the sustainability of any potential agreement. The United States has historically resisted previous Iran-Oman diplomatic initiatives, and Washington’s naval restrictions continue to be enforced.Oracle’s Impressive Results Boost Tech SentimentOracle shares surged 4.3% during after-hours trading following the release of quarterly earnings that surpassed Wall Street estimates. The enterprise software giant secured over $30 billion in new artificial intelligence cloud contracts throughout the quarter, elevating its total revenue backlog to an impressive $664 billion.ORACLE $ORCL Q1’27 EARNINGS HIGHLIGHTS Revenue: $19.3B (Est. $19.14B) ; +30% YoY Adj. EPS: $1.92 (Est. $1.74) ; +30% YoY RPO: $664B; +$209B YoYFY Guide: Revenue: At least $90B (Est. $89.79B) Adj. EPS: $8.10 (Est. $8.07) Q2 Guide: Adj. EPS:… pic.twitter.com/eIVYUkzDTC— Wall St Engine (@wallstengine) September 10, 2026Oracle additionally increased its adjusted earnings projection for fiscal 2027 by five cents, now targeting $8.10 per share. The company’s cash consumption came in below analyst expectations, alleviating worries that substantial AI infrastructure investments were straining its financial position.The technology company’s shares had declined more than 20% during 2026 prior to this earnings release, as market participants expressed skepticism about returns on AI capital expenditures. Thursday’s financial results provided some reassurance to concerned investors.Adobe experienced a 2% decline in after-hours trading despite delivering solid quarterly earnings, as its forward-looking guidance fell marginally short of market expectations.Asia-Pacific equity markets trended predominantly lower during Friday’s session. South Korea’s Kospi index retreated 2.8%, Japan’s Nikkei 225 fell 2.6%, and Hong Kong’s Hang Seng Index slipped 1.4%. European markets opened with gains, as the pan-European Stoxx 600 index climbed 0.31%.Thursday also delivered an elevated producer price index report, with wholesale inflation accelerating 0.4% on a monthly basis and 5.4% compared to the previous year. This hotter-than-expected reading prompted traders to increase their expectations for Federal Reserve monetary tightening.Current market pricing reflects a 66.7% likelihood of a 25 basis point rate hike when the Federal Reserve convenes on September 16, representing an increase from the 60.4% probability calculated the previous day. The forthcoming August CPI report, projected to reveal a 3.4% annual inflation rate, will serve as the final significant economic data release before policymakers make their decision.The post U.S. Stock Futures Climb Ahead of Critical August CPI Data and Oracle Earnings Beat appeared first on Blockonomi.