Wall Street futures rise as AI stocks gain, offsetting concerns over oil price rebound

According to fresh market updates, Wall Street futures rose on Thursday as resilience in artificial intelligence stocks helped offset concerns over volatility in bond markets and a renewed climb in crude prices.

S&P 500 futures were up 0.4 percent after moving between upside and losses. Chipmakers provided backing following an upbeat forecast from Micron Technology Inc.

That stated, swings in global bond yields weighed on sentiment, with the yield on 10-year US Treasuries touching its highest level since 2002. The yield on 30-year UK government bonds briefly crossed 6 percent for the first time since 1998 before retreating.

Brent crude rose towards USD 100 a barrel in a volatile session as traders weighed increased flows from the Middle East against the risk of further escalation.

Nasdaq futures were up 0.65 percent, while Dow futures advanced 0.3 percent, at around 5:45 PM IST.

In the technology sector, Alphabet Inc rose more than 2 percent in early trading after beginning to roll out its latest flagship AI model.

In another sign of the scale of the AI buildout, Tencent Holdings Ltd signed an estimated USD 7 billion lease deal with cloud provider Oracle Corp, the Financial Times noted.

In Asian markets, South Korea's KOSPI and Japan's Nikkei 225 index ended sharply elevated.

European markets were trading softer.

Back home, key market indices The two key benchmark indices ended softer for the fourth straight day on Thursday as persistent foreign fund outflows, high bond yields and a fresh spike in oil price marks weighed on investor sentiment.

The Sensex eased 570.59 points, or 0.79 percent to settle at 71,909.70. Through the session, it tanked 1,187.41 points, or 1.63 percent to 71,292.88.

The Nifty tumbled 198.50 points, or 0.88 percent to end at 22,421.95.