US Stock Market Today Live Updates: The US stock market futures remained in the red on Thursday, signalling a negative start to Wall Street today, even as Nvidia posted blockbuster earnings.
Hopes of a US-Iran peace agreement faced fresh complications, pushing oil prices and bond yields higher and weighing on Wall Street.
S&P 500 futures slipped 0.25%, while Nasdaq futures, down 0.42%, struggled to build on the AI-driven rally that has recently pushed stocks to record highs. Dow Jones futures dipped 1.3%.
Nvidia shares, meanwhile, edged up 0.3% in premarket trading after the AI heavyweight forecast second-quarter revenue above Wall Street estimates.
Crude remains key element
Brent crude dropped below $105 a barrel overnight after Iran indicated that the latest US proposal had helped reduce differences between the two sides. However, the latest reports from Reuters that Iran’s Supreme Leader has issued a directive that the country’s near-weapons-grade uranium should not be sent abroad, pushed up the prices by 1%. Brent was last trading at $106/barrel.
Investors are increasingly wagering that even a limited breakthrough could eventually reopen the Strait of Hormuz and ease strains on global energy supplies.
Meanwhile, bond yields edged up to 4.582%, resuming their recent rise. Markets are pricing in roughly a 40% chance the US Federal Reserve will raise interest rates by at least 25 basis points by the end of the year, according to CME’s FedWatch tool, quoted by Reuters.
Data-heavy day ahead
On the economic front, investors are awaiting weekly jobless claims and business activity surveys later today, which could provide fresh insight into the strength of the economy.
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