US stock futures posted modest gains on Thursday, though the three major indexes remain in negative territory for the week as investors await further inflation data to guide the market. Dow futures rose 0.2% to 53,978 points, S&P 500 futures climbed 0.2% to 7,784.50 points, and Nasdaq futures inched up 0.1% to 29,877.25 points. All three indexes have retreated this week.

Inflation data is a near-term focus. The US Labor Department is set to release the Producer Price Index (PPI) on Thursday, which measures price changes before they reach consumers and is often used to predict inflation trends. The Consumer Price Index (CPI) released the previous day showed a 3.4% year-on-year increase in July, slightly below June's 3.5%, with a 0.1% month-on-month rise. Inflation had previously fallen to 2.4% before rebounding due to factors related to the Iran conflict.

Tech stocks were mixed, with Cisco becoming a focus as its shares dropped about 6%. The company's fourth-quarter earnings beat expectations across the board, and revenue was boosted by AI-driven demand. However, with the stock having risen 61% year-to-date, investors chose to take profits. Recent volatility in AI-related stocks has intensified, and the market is eager to see massive tech investments translate into tangible returns. In streaming, Netflix rose nearly 2% in pre-market trading. Bill Ackman's Pershing Square disclosed a sizable stake in the company, stating it believes Netflix has "effectively won the streaming wars." The investment firm previously exited a roughly $1 billion position in the company years ago, incurring losses of hundreds of millions of dollars, making its re-entry a notable event.

In global markets and commodities, Europe saw mixed performance: the French CAC 40 rose 0.2%, the German DAX gained 0.5%, and the UK's FTSE 100 fell 0.3%. Asian markets were also divided: Japan's Nikkei 225 closed up 1.2%; South Korea's Kospi surged 3.6%, with Samsung Electronics up 4.9% and SK Hynix soaring 9%; while Hong Kong's Hang Seng Index edged down 0.2%. Oil prices fell sharply, with US benchmark crude dropping $2.13 to $81.50 per barrel and Brent crude sliding $2.02 to $87.18 per barrel. In forex, the US dollar traded at 159.34 against the Japanese yen, slightly weaker. The euro was at $1.1536. Following recent joint US-Japan intervention to support the yen, currency fluctuations remain under close watch.

Overall, the modest rebound in futures has not yet reversed the week's weaker tone. Today's Producer Price Index data, along with the performance of tech stocks, especially AI-related names, will be key variables in determining market sentiment.