Stock market today: Nasdaq futures sink, Dow and S&P 500 look to snap 3-day losing streak ahead of inflation data

US stocks futures diverged on Thursday morning as a rally in oil prices took a breather and investors awaited wholesale inflation data and Oracle (ORCL) earnings.Futures on the Dow Jones Industrial Average (YM=F) rose 0.2%, while those on the S&P 500 (ES=F) traded near the flat line. Contracts for the Nasdaq-100 (NQ=F), meanwhile, slipped 0.3%.Stocks have cooled this week as oil prices topped $100 per barrel, a move that has helped support rising Treasury yields. The 10-year yield (^TNX) hit a three-year high on Wednesday after the Treasury Department announced it would buy up to $6 billion in longer-term debt.President Trump said Wednesday that oil prices may not come down until after the midterm elections two months away. The ongoing US-Iran war and disruptions in the Strait of Hormuz have raised concerns that an energy shock could flow into broader inflation and all but force the Federal Reserve to raise interest rates.On Thursday, wholesale inflation data showed producer prices rose on a monthly and yearly basis largely in line with expectations, setting the stage for the government's consumer inflation report, due out Friday. The Producer Price Index rose 5.4% year-on-year, and 4.6% on a core basis.Investors are also considering a proposal Trump floated in Dallas on Wednesday to send every American adult a $5,000 check if the Republicans keep control of Congress in the midterm elections. It's not clear how Trump would implement such a costly measure, as Congress would need to approve it.After the bell, Oracle (ORCL) is expected to report earnings, offering a reality check on AI capital expenditures and demand.