07:26 AM EDT, 06/11/2026 (MT Newswires) -- US equity markets were tracking in the green before the opening bell Thursday as traders assess escalating hostilities between the US and Iran and await the latest data on wholesale prices.

The S&P 500 rose 0.7%, the Dow Jones Industrial Average increased 0.8% and the Nasdaq gained 1.1% in premarket activity. The indexes finished the previous trading session in the red, with the Nasdaq and the S&P 500 closing at their lowest levels in about five weeks.

The US Central Command said Wednesday its forces completed additional "self-defense" strikes against Iranian military surveillance capabilities, communication systems and air defense sites, in response to Tehran's "unwarranted and continued aggression."

Iran's strait authority said on Thursday that the Strait of Hormuz will be closed "until further notice" following an exchange of fire with the US, CNN reported.

On Wednesday, President Donald Trump said on social media that Iran will have to "pay the price" for taking too long to agree to a peace deal.

US forces launched airstrikes against Iran after Tehran shot down an American Apache helicopter earlier in the week. Iran reportedly struck American military bases across Jordan, Kuwait, and Bahrain.

West Texas Intermediate crude oil moved down 0.9% to $89.23 a barrel before the open, while Brent decreased 1.1% to $92.08.

In a Wednesday post on Truth Social, Trump said the US military executed a "secret mission" last month to support oil tankers and other commercial ships through the Strait of Hormuz. The initiative led to "more than 100 million barrels of oil" passing through the strait and into the open market, according to Trump.

"With no imminent deal in sight and with the global oil market tightening significantly every day, we see upside to prices, particularly if these disruptions linger into the third quarter, a period of seasonally stronger oil demand," ING Bank said in a report Wednesday.

Last month's producer price index, a measure of wholesale prices, is scheduled to be released at 8:30 am ET. The report comes a day after official data showed that US annual inflation accelerated to the highest in about three years, fueling expectations that the Federal Reserve will keep interest rates on hold for some time.

"US inflation continues to vault higher on the back of swiftly rising energy prices and four months of closure of the Strait of Hormuz," BMO Chief US Economist Scott Anderson said in a report.

The two-year Treasury yield was unchanged at 4.13% before the open, while the 10-year rate retreated 1.4 basis points to 4.53%.

Thursday's economic calendar also has the weekly jobless claims bulletin at 8:30 am.

Shares of Oracle (ORCL) dropped 8% pre-bell as the cloud computing company said it plans to raise about $40 billion in fiscal 2027 through a mix of debt and equity financing, including its previously announced $20 billion stock sale. The firm reported fiscal fourth-quarter results above Wall Street's estimates.

Adobe (ADBE), Lennar ( LEN ) and RH (RH) are expected to report their latest financial results after the markets close.

Gold slipped 0.5% to $4,111 per troy ounce, while bitcoin advanced 1.6% to $62,833.