S&P 500 and Nasdaq Futures Rise as US-Iran Tensions Ease Thursday

TLDR

• Nasdaq-100 futures climbed 0.6%, S&P 500 futures added 0.2% on Thursday morning
• Markets brushed off renewed US-Iran strikes after a sharp sell-off Wednesday
• Oil prices eased, with Brent sliding 0.4% to $77.75 and WTI down 0.3% to $73.26
• SK Hynix’s Nasdaq debut is drawing heavy attention, with demand at seven times available supply
• Weekly jobless claims data is due, while Pepsi’s results pointed to cautious consumer spending

US stock futures pushed higher on Thursday morning as investors quickly moved past the latest flare-up in US-Iran hostilities and turned their attention back to the AI trade.

Nasdaq-100 futures gained 0.6%, S&P 500 futures added 0.2%, and Dow Jones futures were little changed, up less than 0.1%.

The bounce back comes after a rough Wednesday session. The Dow dropped nearly 600 points as oil prices surged after President Trump declared the US-Iran ceasefire was “over.”

The two sides continued to exchange strikes overnight, but markets appeared unfazed. Oil prices actually pulled back on Thursday, with Brent crude sliding 0.4% to $77.75 a barrel and WTI easing 0.3% to $73.26.

The US dollar slipped 0.1% against a basket of peers as demand for safe-haven assets cooled. The 10-year Treasury yield edged down 1 basis point to 4.57%.

Citi US equity strategist Scott Chronert summed up the mood on Wall Street: “How to interpret headlines that the ceasefire is over is now a key talking point. For now, we will consider this a short-term reversal.”

He added that despite a lack of visibility on behind-the-scenes negotiations, he believes Trump is focused on bringing the conflict to an end.

SK Hynix Debut Draws Spotlight

The bigger story for tech investors on Thursday is the imminent Nasdaq debut of SK Hynix. The South Korean memory chipmaker is set to price its US offering on Thursday ahead of trading on Friday, with demand running at roughly seven times the available supply.

The IPO lands at a sensitive moment. Chip stocks have seen a choppy stretch recently as investors weigh the durability of the AI spending boom.

SK Hynix trades in Seoul under the ticker 000660.KS and gained 5.3% on Thursday. Its US listing is widely seen as a barometer of investor appetite for AI-linked hardware names.

Macro Data and Earnings in Focus

On the economic front, weekly initial jobless claims are due Thursday. The data could shift expectations around Federal Reserve interest rate policy heading into the second half of the year.

Pepsi reported earnings that offered a mixed read on the US consumer. Revenue came in above expectations, but the results showed consumers pulling back on spending due to economic concerns.

Gold climbed back above $4,100, though a hawkish tone from the Fed continues to weigh on the outlook for the metal.

Bitcoin edged modestly higher as investors balanced Iran-related uncertainty against signals from Fed meeting minutes released Wednesday.

European equities opened higher, with tech and banking names leading the gains.

Wall Street’s fear gauge, the VIX, held steady, suggesting traders are not yet pricing in a major escalation from the ongoing Middle East tensions.

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