US stock futures climbed on Thursday, with momentum returning as investors awaited wholesale inflation and retail data that could sway the Federal Reserve at its policy meeting next week.

Futures on the S&P 500 (^GSPC) rose 0.3%, signaling a potential bid ahead for its 18th record close this year. Dow Jones Industrial Average (^DJI) futures were up roughly 0.4%, or over 100 points.

Meanwhile, the tech-heavy Nasdaq 100 (^NDX) also gained 0.4%, coming back after Nvidia (NVDA) and Tesla (TSLA) dragged stocks lower on Wednesday.

Focus is firmly on February’s producer price index release at 8:30 a.m. ET, with investors watching whether inflation is cooling fast enough to satisfy Fed policymakers and herald interest-rate cuts. That said, the market shrugged off signs of sticky inflation in Tuesday’s CPI report and stuck to their hopes for a policy pivot come summer.

Eyes are closely watching the PPI release and the other last few pieces of data that will provide a health check for the US economy ahead of the central bank’s two-day meeting next week. Also on deck Thursday are retail sales figures for February and weekly jobless claims.

In commodities, oil’s revived rally continued to build after the IEA warned that supply would lag this year and US stockpiles shrank. WTI crude futures (CL=F) traded just above $80 per barrel and touched their highest levels since November, while Brent crude futures (BZ=F) pushed toward $85.

On the corporate front, Fisker’s (FSR) shares plunged almost 40% in premarket after a Wall Street Journal report that the EV maker is exploring a bankruptcy filing.