FINWIRES · TerminalLIVE
FINWIRES

US Equity Futures Mixed Pre-Bell Friday Following Record-High Overnight Close for S&P 500

By

US equity futures were mixed pre-bell Friday after a record-high overnight close for the S&P 500.

Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.2% higher.

The S&P 500 hit an intraday all-time high of 7,816.70 on Thursday before closing at 7,798.99, which was also an all-time high.

US Defense Secretary Pete Hegseth said the US can keep the naval blockade on Iran "indefinitely," according to multiple media reports. US Treasury Secretary Scott Bessent said that the US planned to apply measures on the Middle Eastern nation that have "never been seen" before, including economic isolation, according to reports that cited an interview on Newsmax.

Oil prices were slightly higher, with front-month global benchmark North Sea Brent crude up 0.1% at $87.10 per barrel and US West Texas Intermediate crude 0.3% higher at $81.50 per barrel.

The July retail sales report, slated for 8:30 am ET, is forecast to show a 0.1% increase following a 0.2% gain in the previous month, according to estimates compiled by Bloomberg.

The University of Michigan consumer sentiment index for August, slated for 10 am ET, is expected at 55.0, down from 55.2 previously.

Related Articles

Japan

US Equity Markets End Higher Amid Weak Producer Inflation Print, Drop in Crude Oil Prices

US equity indexes ended higher Thursday after a weak producer price inflation report and a drop in crude oil prices.* The Producer Price Index held steady in July, following a 0.1% decrease in June, versus the 0.2% gain expected in a Bloomberg-compiled survey.* US commercial crude oil inventories increased by a staggering 17.4 million barrels in the week ended Aug. 7, the Energy Information Administration said in its weekly report on Wednesday.* September West Texas Intermediate crude oil fell $1.99 to settle at $81.28 per barrel, while October Brent crude, the global benchmark, was last seen down $1.93 at $87.05 after the International Energy Agency projected global demand to contract by 1.6 million barrels per day this year.* Workday (WDAY) is in talks to be acquired by private equity firm Silver Lake, Reuters reported Thursday. Shares of the company were up roughly 18%, the top gainer on the S&P 500 and Nasdaq.* Tapestry (TPR) shares were down nearly 16%, the worst performer on the S&P 500, after the company issued a full-year outlook below analyst estimates at the midpoint on Thursday, after reporting stronger-than-expected fiscal Q4 earnings.

Dow JonesNasdaq CompositeS&P 500$TPR$WDAY
Japan

Update: S&P 500 Scales New Peak as Weak Wholesale Inflation Report Lifts Odds of Fed's Policy-Pause Extension

(Updates with index/price moves from the first paragraph.)US equity indexes rose, with the S&P 500 hitting a new high, after a soft producer price inflation report increased the probability of a sixth consecutive monetary policy pause in September, and crude oil prices slumped.The Nasdaq Composite rose 0.9% to 26,838.1, and the S&P 500 climbed 0.7% to 7,803.9 ahead of Thursday's close. The Dow Jones Industrial Average edged up 0.1% to 53,844.5, clawing out of intraday declines. The S&P 500 hit 7,816.70, its highest intraday level ever.Communication services, real estate and technology topped the gainers, while materials led decliners.The Producer Price Index held steady in July, following a 0.1% decrease in June, versus the 0.2% gain expected in a Bloomberg-compiled survey. Energy prices fell by 3.1% in the month amid a 9.8% slide in natural gas liquids, a 6.7% slump in diesel fuel, and a 5.7% drop in gasoline prices. Excluding food and energy, core PPI climbed 0.2%, still below the 0.3% gain anticipated and a 0.4% increase in June.Annually, PPI was up 4.7% in July, and core PPI increased by 4.2%, both slowing from June.The probability of the Federal Reserve extending its policy pause to September jumped to 65% on Thursday, from 59% a day ago and 45% a week earlier, according to the CME FedWatch tool.Among companies with market capitalizations exceeding $200 billion each, eight of the top 10 by returns were in the technology sector after midday Thursday, according to data compiled by Finviz. Sandisk (SNDK), the leader of this pack with a 14% surge in the final leg of trading, said it expects revenue growth in the mid-to-high-teens over fiscal 2028 through fiscal 2030.Meanwhile, the front-month US West Texas Intermediate crude oil contract dropped 2.5% to $81.23 per barrel, and global benchmark North Sea Brent declined 2.2% to $87.06 per barrel as traders weighed a downbeat demand-supply dynamic and a continuing stalemate in the Iran war.

Dow JonesNasdaq CompositeS&P 500$SNDK
Japan

Update: US Equity Indexes Mixed as Soft Wholesale Inflation Helps Lift Bets for Fed Policy Pause

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes traded mixed after a soft producer price inflation print boosted the odds of a monetary policy pause for the sixth consecutive time, while crude oil prices declined.The Nasdaq Composite rose 0.6% to 26,736.2, and the S&P 500 climbed 0.4% to 7,781.4 after midday Thursday. The Dow Jones Industrial Average fell 0.1% to 53,697.7 as a sharp sell-off in Cisco (CSCO) weighed on the equal-weighted index.Real estate and technology topped gainers, while industrials and materials led decliners.Cisco slumped 8.3%, one of the worst performers in the Dow, the S&P 500 and the Nasdaq. The tech giant reported flat fiscal Q4 services revenue at $3.79 billion, missing the FactSet-polled consensus of $3.81 billion. On a non-GAAP basis, product gross margin fell to 64.8% from 67.5% a year ago, weighing on total gross margin.The Producer Price Index held steady in July, following a 0.1% decrease in June, versus the 0.2% gain expected in a Bloomberg-compiled survey, amid sliding energy and food prices. Excluding food and energy, core PPI climbed 0.2%, below the 0.3% gain anticipated and a 0.4% increase in June.The probability of the Federal Reserve extending its policy pause to September jumped to 66% on Thursday, from 59% a day ago and 45% a week earlier, according to the CME FedWatch tool.US Treasury yields fell, with the 10-year yield down 4.9 basis points to 4.64% and the two-year lower by 5.4 basis points to 4.15%.The front-month US West Texas Intermediate crude oil contract dropped 1.4% to $82.15 per barrel, and global benchmark North Sea Brent declined 1.2% to $87.95 per barrel.The Strait of Hormuz is "under Iran's control and management," the recently appointed head of Iran's Basij paramilitary unit said Thursday, a day after US President Donald Trump said the US had "total control" of the waterway, Reuters reported.

Dow JonesNasdaq CompositeS&P 500$CSCO