FINWIRES · TerminalLIVE
FINWIRES

US Equity Futures Flat Pre-Bell as Traders Remain Optimistic About Potential US-Iran Deal

By

US equity futures were mostly unchanged pre-bell Wednesday as traders continue to be optimistic on the possibility of a US-Iran agreement being finalized soon.

Dow Jones Industrial Average futures were up 0.1%, S&P 500 futures were flat, while Nasdaq futures were down 0.1%.

Negotiations between the US and Iran could resume as early as this week, with the New York Post quoting President Donald Trump as saying it could happen "over the next two days."

Traders digested earnings from Bank of America (BAC) and Morgan Stanley (MS), which posted higher Q1 earnings and revenue. Progressive (PGR) also reported higher Q1 net income and net premiums earned.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.6% at $95.39 per barrel and US West Texas Intermediate crude 0.4% higher at $91.64 per barrel.

The April Empire State manufacturing index, released at 8:30 am ET, came in at 11.0, up from negative 0.2 in March and above estimates compiled by Bloomberg for a reading of 0.0.

The March import price index, released at 8:30 am ET, showed a 0.8% month-over-month increase, falling short of estimates compiled by Bloomberg for a 2.3% gain. Export prices increased 1.6%, slightly higher than expectations for a 1.5% gain.

The April US housing market index, slated for 10 am ET, is seen coming in at 37 versus 38 previously.

In other world markets, Japan's Nikkei closed 0.4% higher, Hong Kong's Hang Seng ended 0.3% higher, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was also 0.1% higher in Europe's early afternoon session.

In equities, Bank of America shares were up 1.6%, while Morgan Stanley stock was 2.8% higher. Snap (SNAP) shares were up 7.6% after the company said it planned to cut around 16% of its global workforce, or roughly 1,000 employees.

On the losing side, Terawulf (WULF) shares were down 4.7% after the company said late Tuesday that it priced a public offering of 47.4 million shares at $19 each for gross proceeds of about $900 million. BRP (DOO) stock was 26% lower after the company overnight said it suspended its fiscal 2027 guidance following a recent amendment to US rules for tariffs on steel, aluminum, and copper imports.

Related Articles

Asia Markets

US Equity Indexes Jump, Crude Oil Slides as Trump Hints at Iran Peace Talks This Week

US equity indexes advanced on Tuesday as optimism that Iran peace talks may resume this week pushed crude oil futures sharply lower, and after mega-cap banks reported quarterly earnings.The Nasdaq Composite jumped 2% to 23,639.08, the S&P 500 climbed 1.2% to 6,967.38, and the Dow Jones Industrial Average advanced 0.7% to 48,535.99. S&P 500 has reportedly clawed back all of its post-Iran-war declines and, according to CNBC-compiled data, the index is close to its all-time high of about 7,002.3.Consumer discretionary, communication services, and technology led the gainers. Energy was by far the worst performer among a trio of decliners.Talks to end the Iran war could resume in Pakistan over the next two days, US President Donald Trump said on Tuesday, after the collapse of weekend negotiations prompted Washington to impose a blockade on Iranian ports, Reuters reported.Gulf, Pakistani, and Iranian officials said the US and Iran's negotiating teams could return to Pakistan later this week, according to the news report. Still, one senior Iranian source said no date had been set, the report added.The CBOE Volatility Index dropped 4% to 18.36.European countries are putting together a plan for a broad coalition of countries to help free up shipping through the Strait of Hormuz, including sending mine-clearing and other military vessels, The Wall Street Journal reported, adding that the plan would only come to pass after the war.Meanwhile, after the first direct talks in decades, Israel and Lebanon agreed to hold further negotiations "at a mutually agreed time and venue," CNN cited the US State Department as saying.West Texas Intermediate crude oil futures sank 6.8% to $92.32, and Brent crude futures slumped 4.3% to $95.13.In precious metals, gold futures jumped 2% to $4,864.70 and silver futures soared 5.3% to $79.70.In company news, Citigroup (C) and BlackRock (BLK) reported Q1 earnings and revenue growth above market expectations. JPMorgan Chase (JPM) also delivered a better-than-expected quarter.United Airlines (UAL) Chief Executive Scott Kirby proposed a potential combination with American Airlines (AAL) during a late February meeting with President Donald Trump, Reuters reported Monday, citing two unnamed sources familiar with the matter.In economic news, the US Producer Price Index rose by 0.5% in March, the same as in February and below the 1.1% gain expected in a Bloomberg-compiled survey. Energy prices jumped by 8.5% in the month after a 2.1% gain in the previous month due to a 15.7% surge in gasoline prices. Excluding food and energy, core PPI edged up 0.1%, below the 0.4% gain forecast and slower than the 0.3% gain reported in February.Most US Treasury yields fell, with the 10-year down 4.9 basis points to 4.25% and the two-year retreating 3.6 basis points to 3.75%.The International Monetary Fund now expects 2.3% US economic growth in 2026, a downward adjustment from its 2.4% estimate set out in January and compared with the 2.1% growth reported in 2025. The IMF also revised down its 2026 global growth outlook in its World Economic Outlook update released Tuesday.

Dow JonesNasdaq CompositeS&P 500$AAL$BLK$C$JPM$UAL
Asia Markets

US Equity Markets Rise Amid Optimism Around Resumption of US-Iran Peace Talks, Lower Crude Oil Prices

US equity indexes closed higher on Tuesday as optimism over the resumption of US-Iran peace talks sent crude oil prices lower.* Talks to end the Iran war could resume in Pakistan over the next two days, US President Donald Trump said on Tuesday* The US Producer Price Index rose by 0.5% in March, the same as in February and below the 1.1% gain expected in a Bloomberg-compiled survey.* May West Texas Intermediate crude oil fell $7.37 to settle at $91.71 per barrel, while June Brent crude, the global benchmark, was last seen down $4.34 at $95.02.* Oracle (ORCL) shares rose about 4.8% after Bloom Energy (BE) said late Monday it will provide up to 2.8 gigawatts of its fuel cell systems to Oracle (ORCL) under an expanded partnership to support the software giant's artificial intelligence infrastructure buildout. Bloom Energy shares rose roughly 24%. Oracle, on Monday, also introduced AI-focused updates to its utilities software suite, targeting improvements in billing, grid operations, and asset management.* Wells Fargo's (WFC) shares were down nearly 5.7% after the company's Q1 revenue missed market expectations and Chief Executive Charlie Scharf said there will likely be a lag in the pass-through of higher oil prices.

Dow JonesNasdaq CompositeS&P 500$BE$ORCL$WFC
Asia Markets

US Equity Indexes Soar, Crude Oil Sinks Amid Hopes Iran Peace Talks May Resume This Week

US equity indexes traded higher ahead of Tuesday's close as optimism over the resumption of Iran peace talks sent crude oil futures sharply lower, and after mega-cap banks reported quarterly earnings.The Nasdaq Composite jumped 1.7% to 23,578.7, the S&P 500 climbed 1% to 6,952.9, and the Dow Jones Industrial Average advanced 0.5% to 48,456.4.Talks to end the Iran war could resume in Pakistan over the next two days, US President Donald Trump said on Tuesday, after the collapse of weekend negotiations prompted Washington to impose a blockade on Iranian ports, Reuters reported.Gulf, Pakistani, and Iranian officials said the US and Iran's negotiating teams could return to Pakistan later this week, according to the news report. Still, one senior Iranian source said no date had been set, the report added.West Texas Intermediate crude oil futures sank 7.4% to $91.65, and Brent crude futures slumped 4.4% to $94.92.Most US Treasury yields fell, with the 10-year down 2.3 basis points to 4.27% and the two-year retreating 1.5 basis points to 3.78%.In company news, Citigroup (C) and BlackRock (BLK) reported Q1 earnings and revenue growth above market expectations. JPMorgan Chase (JPM) also delivered a better-than-expected quarter.

Dow JonesNasdaq CompositeS&P 500$BLK$C$JPM