The Dow was set to extend record highs while Nasdaq futures fell in early European trade, after a selloff in Asian artificial‑intelligence names. Chip stocks fell in Asia and the U.S. as investors once again grew nervous about the durability of artificial‑intelligence spending.

Oil held steady in early European trade, with Brent crude hovering just below $80 a barrel and WTI futures near $75.38. Brent crude was up 0.5% to $79.84 a barrel in early European trade.

Investors are also watching progress on talks to reopen the Strait of Hormuz. Iran and Oman are close to an agreement that would create two lanes for inbound and outbound traffic through the crucial waterway, allowing Tehran oversight of ships entering the Persian Gulf without levying tolls.

For the day ahead, investors will look at U.S. second‑quarter nonfarm productivity data and a raft of European data, including the European Central Bank’s latest Economic Bulletin. Warner Bros. Discovery will report earnings later Thursday, while domestic crude oil stocks rose by 2.5 million barrels last week, contrary to expectations of a moderate withdrawal.