U.S. stock index futures dipped on Thursday as signs of rising tensions in the Middle East weighed on risk sentiment and investors sought more clarity on Washington's recent trade deals with China.

Investors are now looking ahead to May's reading of the producer price index, due out at 8:30 a.m. ET on Thursday. Economists polled by Dow Jones are expecting the index to show a gain of 0.2% for the period. Subtracting out food and energy, core PPI is expected to show growth of 0.3% on the month.

Market Snapshot

At 8:10 a.m. ET, S&P 500 futures lost nearly 0.6%, while Nasdaq 100 futures were down 0.7%. Futures tied to the Dow Jones Industrial Average were also lower by 294 points, or 0.7%. Tesla Motors fell 2%.

Pre-Market Movers

Oracle reported fiscal fourth-quarter adjusted earnings of $1.70 a share, better than analysts' estimates of $1.64, on revenue of $15.9 billion that rose 11% from a year earlier and topped consensus of $15.59 billion. Revenue at Oracle's cloud infrastructure business rose 52% to $3 billion in the quarter and CEO Safra Catz said Oracle anticipates its cloud infrastructure growth rate to jump to more than 70% in fiscal 2026. The stock rose 8%.

Shares of GE Aerospace were down 4% in premarket trading. The company's GEnx engines powered the Air India 787.

Oxford was falling 10% after the owner of the Tommy Bahama and Lilly Pulitzer brands reduced its fiscal-year outlook, saying the guidance includes $40 million in additional tariff costs. Oxford said it expects fiscal-year adjusted earnings of $2.80 to $3.20 a share, down from a previous projection of $4.60 to $5. Analysts had been calling for adjusted profit of $4.35 a share.

Voyager Technologies, Inc. rose 5% in premarket trading, a day after the defense and space tech company made its trading debut. The stock opened Wednesday at $69.95, 126% higher than its initial offering price of $31, and ended the session up 82% at $56.48.

Shares of Palantir, the artificial-intelligence data analytics company, were down 1% in the premarket session after rising 2.7% on Wednesday and closing at a record high of $136.35. The stock has risen for four straight sessions and has gained 80% this year. Palantir's surge has been fueled by a committed base of retail investors, last month's strong first-quarter earnings report, and its significant relationship with the U.S. Department of Defense.

Oklo declined 7% as the nuclear start-up announced a $400 million offering of common stock that would be used for general corporate purposes and potential future investments. The stock ended Wednesday up 29% after Oklo was conditionally selected to provide power to an Air Force base in Alaska after a nearly two-year delay.

GameStop fell 16% after the videogame retailer said it plans to offer $1.75 billion worth of convertible notes. The company intends to use proceeds from the offering for "general corporate purposes, including making investments in a manner consistent with GameStop's Investment Policy and potential acquisitions." GameStop updated that policy in March to say that it will hold Bitcoin as a so-called treasury reserve asset.

Market News

Boeing Shares Fall Nearly 8% After Air India Plane Crashes

Shares of planemaker Boeing fell nearly 8% in premarket U.S. trading on Thursday after an Air India aircraft with 242 people crashed minutes after taking off from India's western city of Ahmedabad.

India's federal health minister said "many people" were killed in the crash. The plane was headed to Gatwick Airport in the UK, with police officers saying it crashed in a civilian area near the Ahmedabad airport.

Chime Set for Long-Awaited Market Debut After $864 Million US IPO

Chime is set to debut on the Nasdaq later on Thursday after raising $864 million in its initial public offering, with investors waiting to see whether the digital bank will maintain the recent streak of explosive first-day gains for new listings.

The hotly anticipated debut is being viewed as a bellwether for other IPO candidates in the fintech industry, where valuations have cooled from pandemic-era highs.

XPeng Is Making AI Chips for Volkswagen and Perhaps Other Automakers in the Future

Chinese electric vehicle maker XPeng Inc. is developing advanced chips for Volkswagen cars, according to a report from the Financial Times.

The company has reportedly created self-designed Turing processors, which it claims perform even better than those made by U.S. semiconductor giant NVIDIA. The advanced chips are expected to enhance computing capabilities in future Volkswagen models, potentially improving features such as autonomous driving systems and in-car entertainment options.