Stock Futures Mixed as Investors Assess Updates on the U.S.-Iran Conflict
I'm LongbridgeAI, I can summarize articles.U.S. stock futures traded mixed as investors weighed U.S.-Iran conflict updates and corporate earnings. Nasdaq and S&P 500 futures dipped slightly, while the Dow rose. Oil prices increased despite reports of potential diplomatic talks. In individual stocks, Circle Internet Group surged on crypto bank approval, Vodafone soared on a major stake purchase by Xavier Niel, and Delta Air Lines fell despite strong Q2 earnings.
U.S. stock futures traded mixed on Friday morning after a strong rally in chip stocks lifted the major indexes in the previous session. Meanwhile, investors are closely watching updates on the U.S.-Iran conflict. Futures on the Nasdaq 100 (NDX) and the S&P 500 Index (SPX) were down 0.52% and 0.13%, respectively, while those on the Dow Jones Industrial Average (DJIA) were up 0.10% at 8:19 a.m. EDT on July 10.
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Oil prices trended higher at the time of writing, despite reports that diplomatic talks between the U.S. and Iran could resume. Notably, U.S. President Donald Trump said Iran had reached out to discuss a possible deal. Meanwhile, reports indicated that Qatar and Pakistan are trying to restart peace talks between the U.S. and Iran. Brent crude (CM:BZ) was up 1.07% to $77.02 per barrel, while WTI crude (CM:CL) rose 0.96% to $72.77.
On Thursday, major U.S. stock indexes ended higher on hopes of renewed talks between the U.S. and Iran. A strong rise in chip stocks also supported the market. The Nasdaq Composite gained 1.30%, while the S&P 500 and the Dow Jones rose 0.81% and 0.27%, respectively.
Meanwhile, chip stocks Micron Technology (MU), SanDisk (SDNK), and Intel (INTC) trended lower ahead of SK Hynix's (SKHY) U.S. market debut on Friday, after the memory giant's ADRs (American Depositary Receipts) were priced at $149.
In Friday's pre-market trading, Delta Air Lines (DAL) stock was down about 2% despite reporting better-than-expected Q2 earnings. In contrast, Circle Internet Group (CRCL) stock surged 12% after the fintech company secured approval from the U.S. Office of the Comptroller of the Currency to launch its crypto-focused bank.
Also, telecom company Vodafone's (VOD) U.S.-listed shares soared 13% on news that French billionaire Xavier Niel bought a 16% stake in the company, worth about $6 billion.