FINWIRES · TerminalLIVE
FINWIRES

US Equity Futures Mixed Pre-Bell as Traders Cautious on Tech, US Strikes Iran Targets Anew

By

US equity futures were mixed pre-bell Thursday as traders saw tech stocks trend downwards and the US unleashed another round of strikes against Iran.

Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.8% lower.

SK Hynix (SKHY) stock fell more than 11% in Seoul and 5% in premarket activity on the Nasdaq.

US Central Command said in a post on X that it completed another wave of attacks against Iran, holding the nation "accountable" at the direction of President Donald Trump.

Iran warned that it would hit key infrastructure in the Gulf region if the US followed through on Trump's threats on Tuesday to strike Iranian infrastructure such as bridges and power plants if progress on peace talks was not achieved.

Traders took note of the latest round of earnings with Taiwan Semiconductor Manufacturing (TSM) posting higher Q2 earnings and revenue.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.5% at $84.52 per barrel and US West Texas Intermediate crude 0.3% lower at $79.37 per barrel.

The June retail sales report, slated for 8:30 am ET, is forecast to show a 0.2% increase following a 0.9% gain in the previous month, according to estimates compiled by Bloomberg. The weekly jobless claims bulletin is expected to show 217,000 new unemployment claims for the week ended July 11, up from 215,000 in the prior week. The Philadelphia Fed's regional manufacturing index for July is seen coming in at 12.5, up from 10.3 posted previously.

The July US housing market index, slated for 10 am ET, is expected at 35, unchanged from the prior month. Pending home sales for June are expected to decline by 0.5% after a gain of 3.8% in the prior month.

Federal Reserve Dallas President Lorie Logan, Kansas City President Jeffrey Schmid, and Vice Chair Philip Jefferson are slated to speak on Thursday.

Related Articles

Japan

US Equity Markets End Higher After Unexpected Decline in Producer Price Index

US equity indexes closed higher Wednesday after an unexpected drop in producer prices.* The US producer price index fell 0.3% in June following a 0.6% increase in May, below the flat consensus in a Bloomberg survey.* The US intensified airstrikes against Iran following Tehran's attacks on ships attempting to pass through the Strait of Hormuz, the Associated Press reported.* August West Texas Intermediate crude oil rose $0.92 to settle at $80.26 per barrel, while September Brent crude, the global benchmark, was last seen up $1.02 at $85.75.* Payments firm Stripe and Advent International offered to acquire PayPal (PYPL) for $60.50 a share in a deal valuing the company at more than $53 billion, Reuters reported. PayPal shares jumped 17%, the top gainer on the S&P 500.* Pentair (PNR) shares fell 15%, the biggest drop on the S&P, a day after the company reported preliminary Q2 results below market estimates and lowered its full-year outlook.

Dow JonesNasdaq CompositeS&P 500$PNR$PYPL
Japan

Update: US Equity Indexes Climb After Inflation Unexpectedly Drops, Strikes on Iran Prepping Groundwork for Tedious Operations

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes edged up as a boost from an unexpected drop in producer price inflation was partially offset by Washington setting the stage for complex operations in Iran, which has signaled its allies could shut the maritime gateway to the Red Sea.The Nasdaq rose 0.4% to 26,221.8, the S&P 500 climbed 0.2% to 7,559.1, and the Dow Jones Industrial Average advanced 0.2% to 52,611.4 ahead of Wednesday's close. All three gauges briefly traded moderately lower earlier in the session. Communication services and consumer discretionary topped the gainers, while utilities led the decliners.The US Producer Price Index fell 0.3% in June following a 0.6% increase in May, below the flat consensus in a Bloomberg-compiled survey. Excluding food and energy, core PPI rose 0.2%, slower than the 0.3% gain expected and a 0.1% rise in May. PPI was up 5.5% year-over-year in June, versus the 6% gain in May, while core PPI climbed 4.7%, up from 4.6% in May.Most US Treasury yields fell in the final leg of trading, with the 10-year down four basis points to 4.55% and the two-year declining 6.3 basis points to 4.13%.Recent waves of US strikes on Iran aimed at forcing open the Strait of Hormuz are also targeting Iranian military capabilities that the US would want to destroy before executing more complex operations against Iran, three US officials told Reuters.The officials, who were granted anonymity to discuss military matters, said the strikes effectively strengthen Trump's additional military options.Iran currently has no plans for negotiations with the US, CNN reported, citing the country's foreign ministry spokesperson, who added that Tehran would not adhere to any agreement if Washington "breaches its obligations."Iran is now signaling it could use Yemen's Houthi allies to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world's most important energy arteries at risk, a separate report from Reuters said. As US strikes deepen inside Iran and Houthi attacks escalate in tandem, analysts said Tehran is widening the conflict and seeking to increase pressure on Washington by extending the threat to global trade and energy supplies beyond the Gulf, the news report added.The front-month global benchmark North Sea Brent rose 0.4% to $85.05 a barrel, and the US West Texas Intermediate climbed 0.5% to $79.71 a barrel, albeit off session highs.

Dow JonesNasdaq CompositeS&P 500
Japan

Update: US Equity Indexes Mixed After Producer Price Inflation Unexpectedly Declines, Iran Signals Potential Red Sea Disruption

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes traded mixed, giving up intraday gains following a surprise decline in the wholesale price inflation rate and a signal from Iran that its allies could shut the maritime gateway to the Red Sea.The Nasdaq was steady at 26,092.1, while the S&P 500 slipped 0.1% to 7,534.1, and the Dow Jones Industrial Average leaned slightly lower to 52,469.8 after midday Wednesday. All three gauges traded higher earlier in the session.The US Producer Price Index fell by 0.3% in June following a 0.6% increase in May, below expectations for a flat reading in a Bloomberg-compiled survey. Excluding food and energy prices, core PPI rose 0.2%, slower than the 0.3% gain expected and a 0.1% rise in May.Iran is now signaling it could use Yemen's Houthi allies to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world's most important energy arteries at risk, Reuters reported. As US strikes deepen inside Iran and Houthi attacks escalate in tandem, analysts said Tehran is widening the conflict and seeking to increase pressure on Washington by extending the threat to global trade and energy supplies beyond the Gulf, the news report said.The front-month global benchmark North Sea Brent fell 0.2% to $84.59 a barrel, and the US West Texas Intermediate slid 0.1% to $79.23 a barrel.In company news, Dutch semiconductor equipment supplier ASML (ASML) reported year-over-year growth in Q2 earnings and sales and raised revenue guidance for the full-year 2026.Payments firm Stripe and Advent International have offered to acquire PayPal (PYPL) for $60.50 per share in a deal that would value the company at more than $53 billion, Reuters reported, citing two unnamed people familiar with the matter.

Dow JonesNasdaq CompositeS&P 500$ASML$PYPL