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US Equity Futures Nudge Higher Pre-Bell as Traders Weigh New US Tariffs, Declining Oil Prices

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US equity futures nudged higher pre-bell Friday as traders weighed a new set of tariffs imposed by the US on its trading partners and a decline in oil prices.

Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were flat.

The US has imposed new tariffs on 60 trading partners over alleged forced labor concerns. Countries that have committed to prohibit forced labor were hit with a 10% tariff, while those that have not committed will receive a rate of 12.5%.

President Donald Trump is seriously considering a "massive attack" on Iran, but has not given a deadline for his decision, according to an Axios report Thursday. He said that Iran "wants to negotiate," but he does not currently want to make a deal.

US forces completed the 13th straight round of attacks on Iran, US Central Command said in a post on X, adding that the Strait of Hormuz "remains open for transit" despite the recent attacks from Iran's Islamic Revolutionary Guard Corps.

Traders also digested the latest round of earnings, with American Express (AXP) posting higher Q2 earnings and revenue.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.8% at $97.87 per barrel and US West Texas Intermediate crude 2.4% lower at $90.01 per barrel.

The July S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen at 54.4, up from 53.9 previously, according to estimates compiled by Bloomberg. June new home sales, due at 10 am ET, are seen at a 607,000 annual rate, up from 580,000 previously.

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US Equity Markets Close Lower as Oil Prices Surge on Widening Middle East Tensions

US equity indexes ended lower Thursday as crude oil prices jumped after Iran-aligned Houthis claimed attacks on Saudi Arabian tankers.* Iran flew Islamic Revolutionary Guard Corps commanders, military advisers, and missile- and drone-related equipment into Yemen this month, according to four sources cited by Reuters, in a move suggesting Tehran is seeking to strengthen its Houthi allies' ability to threaten Red Sea shipping.* Houthi rebels said they attacked two Saudi tankers in the Red Sea on Thursday, according to a report from the Associated Press, further heightening Middle East export concerns.* August West Texas Intermediate crude oil rose $4.71 to settle at $91.45 per barrel, while September Brent crude, the global benchmark, was last seen up $5.81 at $99.88.* Allegion (ALLE) shares rose 10%, the top gainer on the S&P 500, after the company reported higher Q2 results and raised its 2026 outlook.* Tesla (TSLA) shares fell 15%, the biggest drop on the S&P, a day after a surprise decline in Q2 adjusted earnings.

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Update: US Equity Indexes Slump, Crude Oil Soars as Iran-Backed Houthis Hit Tankers in Red Sea Chokepoint

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes dropped, as government bond yields jumped with crude oil after Iran-aligned Houthis attacked Saudi Arabian tankers and investors awaited Intel's (INTC) earnings following a decline in the shares of mega-caps Alphabet (GOOG, GOOGL) and Tesla (TSLA).The Nasdaq Composite slumped 2.4% to 25,074.5, the S&P 500 dropped 1.4% to 7,393.7, and the Dow Jones Industrial Average declined 1.1% to 51,654.6 ahead of Thursday's close. Intel's quarterly results are due after the bell on Thursday.Iran flew Islamic Revolutionary Guard Corps commanders, military advisers, and missile- and drone-related equipment into Yemen this month, according to four sources, in a move that suggests Tehran is seeking to strengthen the ability of its Houthi allies to threaten Red Sea shipping, Reuters reported.Houthi rebels said they attacked two Saudi Arabian oil tankers in the Red Sea on Thursday, according to a report from the Associated Press, further heightening supply concerns as the militants sought to disrupt Middle East exports.The front-month US West Texas Intermediate soared 5.7% to $91.78 a barrel, and global benchmark North Sea Brent spiked 6.5% to $100.21 a barrel.Crude oil extended its rally after "Iran-backed Houthi militants struck two Saudi tankers in the Red Sea," Saxo Bank said in a note. The bid "reflects the US-Iran conflict, the Houthi threat to Red Sea shipping through the Bab el-Mandeb Strait, and Tehran's dismissal of peace talks," it said.US Treasury yields jumped, extending gains, reflecting concerns that an extended disruption to crude oil supplies may make it more challenging for the Federal Reserve to bring inflation down to its 2% target. The 10-year marched 4.2 basis points higher to 4.7% after touching its highest intraday level in a year. The two-year surged 5.1 basis points to 4.35% after yields hit a fresh 52-week high this week.In company news, Tesla shares fell 15%, the worst performer in the S&P 500 and the Nasdaq, after the firm reported a steeper-than-expected drop in Q2 adjusted earnings. Gross and operating margins missed consensus "considerably," and "more important aspects are an increase in capital investments and operating expenses related to the AI transition," Truist Securities said in a note. Free cash flow turned negative in Q2, with an outflow of $1.1 billion.The European Commission fined Alphabet's Google 890 million euros ($1.04 billion) after the company violated the Digital Markets Act through self-preferencing in Google Search and anti-steering practices on Google Play. Shares slumped 7%, among the steepest decliners on the S&P 500, the Nasdaq, and the Dow.

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Update: US Equity Indexes Sink as Mag-7 Stalwarts Disappoint, Houthis Attack Saudi Tankers in Red Sea

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