【US Pre-Market】US Futures Rise Ahead of Key CPI; Oracle Surges Over 7% Pre-Market, Adobe Drops Nearly 3%

TradingKey - On Friday (September 11) EST, futures on the three major U.S. stock indices rose across the board in pre-market trading as investors await the U.S. August Consumer Price Index (CPI) report to be released tonight, which will serve as an important reference for the market to assess the Federal Reserve's future interest rate path. Meanwhile, signs of easing in the Middle East situation led to a noticeable decline in international oil prices.

As of press time, Nasdaq 100 futures gained 0.63%, S&P 500 futures rose 0.53%, and Dow 30 futures advanced 0.59%.

Source: Investing

In commodities, gold (XAUUSD) hovered above $4,300/oz, while silver (XAGUSD) was quoted at around $64/oz. As crude oil prices retreated, market concerns that energy prices would further push up inflation cooled, but investors are still awaiting U.S. CPI data to confirm whether price pressures continue to ease.

International oil prices weakened significantly in pre-market trading, with WTI (USOIL) crude dropping below $100/barrel, and Brent crude (UKOIL) falling back to near $103/barrel. Yemen's Houthi Supreme Political Council stated that clashes in provinces along the west coast of the Red Sea have ceased, easing Middle East tensions.

In cryptocurrencies, Bitcoin (BTCUSD) hovered around $76,000, with risk assets overall maintaining a range-bound pattern.

Market Moves

Oracle (ORCL) rose over 7% at one point in pre-market trading. The company's newly released first-quarter fiscal 2027 revenue reached $19.3 billion, up 30% year-over-year, with adjusted earnings per share of $1.92, both exceeding market expectations; remaining performance obligations (RPO) grew to $664 billion, up $209 billion year-over-year. The company's cloud business continued to serve as the main growth engine, with cloud infrastructure revenue surging 121% year-over-year to $7.4 billion. Oracle also raised its full-year revenue and adjusted earnings per share guidance, as demand for AI infrastructure continues to drive rapid cloud business expansion.

Adobe (ADBE) fell nearly 3% in pre-market trading. The company's third-quarter fiscal revenue was $6.76 billion, up 13% year-over-year, and adjusted earnings per share reached $6.13, both beating market expectations; AI-first annual recurring revenue more than doubled year-over-year. However, the company provided fourth-quarter fiscal revenue guidance of $6.8 billion to $6.85 billion, with the midpoint slightly below analyst expectations, leaving investors with lingering doubts about growth prospects amid the AI transition.

Copart (CPRT) rose about 7% in pre-market trading. The company announced an all-cash acquisition of used-car trading platform ACV Auctions (ACVA) at $10.50 per share, valuing the equity of the deal at approximately $1.9 billion, representing a premium of about 45% over ACV's previous trading day closing price. Meanwhile, Copart's latest quarterly revenue exceeded market expectations. The company aims to expand its layout in dealer used-car transactions, automotive data, and insurance services through the acquisition.

ACV Auctions surged over 40% in pre-market trading. As Copart offered an all-cash acquisition price of $10.50 per share, the market quickly moved toward the deal price. The acquisition will help Copart further enter the dealer-side vehicle transaction and digital data services market while expanding its reach across the automotive remarketing industry chain.

GameStop (GME) rose over 3% in pre-market trading. According to an SEC filing, company CEO Ryan Cohen bought 1 million shares of Class A common stock in the open market on September 10 at an average price of about $20.38, totaling approximately $20.376 million, marking his largest single share purchase since January this year. Previously, two company directors also increased their holdings, further drawing market focus to management's confidence.

Market News

Signals of de-escalation in Middle East tensions triggered a sharp drop in oil prices. Yemen's Houthi Supreme Political Council stated that clashes across several western coastal provinces along the Red Sea have ceased. Meanwhile, Gulf foreign ministers plan to meet with Iranian Foreign Minister Araghchi in talks aimed at facilitating a temporary agreement and improving shipping order through the Strait of Hormuz. Consequently, markets have turned their attention to whether Middle East supply risks are easing, though significant regional uncertainties remain.

U.S. diesel prices surpassed $6 per gallon for the first time. Data from the AAA shows that the national average price of diesel in the U.S. rose to $6.0556 per gallon, while prices in California approached $8. As fall heating and agricultural fuel demand gradually rebound, high diesel prices may continue to transmit to sectors such as transportation, food, and construction, further adding to U.S. inflationary pressures.

Micron's Taiwan employees receive up to 68 months' salary in bonus rewards. Micron Technology (MU) announced its total employee compensation plan for fiscal year 2026 for its Taiwan fabs, offering front-line direct production staff annual bonuses equivalent to 35 to 68 months' salary, with a minimum cash compensation of NT$1.7 million (approximately $53,800). This generous reward package comes as Micron Taiwan employees and labor unions push for improvements to profit-sharing mechanisms.

OpenAI pauses new subscriptions for its $200 Pro 20X tier. Tibo, OpenAI's Chief Product Officer, stated that due to overwhelmingly high user demand, the company will temporarily stop accepting new subscriptions for the $200 Pro 20X tier to safeguard the experience for existing users and ensure seamless access to GPT-6 Astra. The surge in demand for AI products underscores once again the tight supply of high-end computing resources.

Michael Burry closes put options on Nvidia and Palantir. "The Big Short" investor Michael Burry stated that he has closed a portion of his put options on Nvidia (NVDA) and Palantir (PLTR) expiring in December this year, primarily to increase his cash position and further evaluate market shifts in the fall. Nvidia shares remained higher in pre-market trading.

Jensen Huang says cybersecurity could be the next major application market for AI. Nvidia CEO Jensen Huang stated at the Goldman Sachs Tech Conference that AI is reshaping software development, and faster code generation means a faster cycle of vulnerability exposure, attacks, and remediation. As AI agents become more involved in software development, corporate demand for automated security detection and protection tools is likely to grow in tandem.

Tesla China launches Model Y Performance version. Tesla China launched the all-new Model Y All-Wheel Drive Performance edition, priced starting at 369,000 yuan, accelerating from 0 to 100 km/h in just 3.5 seconds with a top speed of 250 km/h. This marks the first Performance edition for the refreshed Model Y, as the market keeps watching whether the new model will further stimulate demand in the Chinese market.

Key Data/Events Preview

At 8:30 a.m. ET, the U.S. released the August CPI MoM and unadjusted CPI YoY.