U.S. stock-index futures pointed to a lower open on Thursday after producer-price data showed inflation running slightly hotter than expected, while escalating Middle East conflict pushed oil above $100 a barrel. Higher energy costs and disrupted supply routes through the Strait of Hormuz and Red Sea reinforced expectations that the Federal Reserve could raise interest rates this month. The Producer Price Index (PPI), a measure of wholesale price changes, rose 5.4% in August from a year earlier, above the 5.3% forecast from economists polled by Reuters. Two-year Treasury yields rose to 4.490%, their highest since 2024, while the 10-year yield reached 4.901%, its highest since 2023. CME FedWatch showed traders assigning a 70% chance to at least a 25-basis-point rate increase next week, up from about 64% before the report. Macy's fell 4% in premarket trading despite raising its annual forecasts, American Eagle Outfitters dropped 14.5% after maintaining its comparable-sales outlook, and Apple rose 0.3% after releasing its $1,999 folding iPhone, Duo.