Stock futures fell sharply early Thursday, pointing to a rocky open as Wall Street grapples with a tragic plane crash involving Dow component Boeing (BA) and digests a blockbuster earnings report from software giant Oracle (ORCL).
Futures tied to the Dow Jones Industrial Average were down 305 points, or 0.71%. S&P 500 futures traded down 0.56%, while Nasdaq 100 futures slipped 0.53%. The negative sentiment comes after the S&P 500 and Nasdaq Composite snapped three-day winning streaks in a quiet session on Wednesday.
Here are the top stories driving the market on Thursday, June 12, 2025.
1. Boeing Shares Plunge After 787 Dreamliner Crash in India
The main driver of the morning’s negative turn is a more than 7% pre-market plunge in Boeing’s stock. The slide follows breaking news that an Air India Boeing 787 Dreamliner crashed after takeoff in India with 242 passengers on board. Authorities reported that the injured are being treated, and the cause of the crash is currently unknown. As a major component of the Dow, Boeing’s sharp decline is weighing heavily on the entire index.
2. Oracle Surges on Stellar Earnings and Cloud Forecast
In a stark contrast, shares of Oracle (ORCL) surged more than 7% in extended trading. The software maker reported fiscal fourth-quarter results that beat analyst expectations on both revenue and profit. Oracle posted adjusted earnings of $1.70 per share on $15.9 billion in revenue, topping estimates of $1.64 per share and $15.59 billion in revenue.
Adding to the optimism, the company forecasted that its cloud infrastructure revenue will grow by more than 70% in the next fiscal year, a significant jump from the 50% growth rate in the prior year.
3. Inflation Data in Focus Ahead of PPI Report
The market moves today follow a mixed session on Wednesday, where investors digested a cooler-than-expected Consumer Price Index (CPI) report. The May CPI rose just 0.1% for the month, less than the 0.2% forecast. The soft reading boosted hopes for a Federal Reserve interest rate cut, with markets pricing in a 57.2% chance of a cut by September.
Investors are now looking ahead to today’s Producer Price Index (PPI) reading, due at 8:30 a.m. ET, for further clues on the path of inflation. Economists expect the index to show a gain of 0.2% for May.
“It makes a lot of sense to me that we’d be choppy and maybe see a little downside here,” Scott Wren, senior global market strategist at Wells Fargo, told CNBC, citing the slowing economy and ongoing trade negotiations.
4. Oil and Platinum Continue to Rally
Commodity markets also remain active. Crude oil futures jumped more than 4% on Wednesday after President Trump expressed doubt about reaching a nuclear deal with Iran and amid reports of threats to the U.S. embassy in Iraq. Platinum also extended its recent gains, rising to a four-year high as strained supply continues to tighten the market.
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