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US Equity Futures Turn Mixed Pre-Bell After S&P 500, Nasdaq Reach New Closing Highs

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US equity futures were mixed pre-bell Friday after the S&P 500 and Nasdaq Composite reached new closing highs to close out April amid a continued impasse in the Middle East.

Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.2% lower.

On Thursday, the S&P 500 rose 1% to close at 7,209.01, breaching the 7,200 mark for the first time, while Nasdaq increased 0.9% to close at 24,892.31, also a new closing record.

US President Donald Trump has rejected Iran's latest offer, stating that the US naval blockade on the nation's ports will remain until the regime agrees to a deal that addresses US concerns about its nuclear program, according to an Axios report on Wednesday.

Traders took note of the latest round of earnings, with energy majors Exxon Mobil (XOM) and Chevron (CVX) both reporting lower Q1 adjusted earnings but higher revenue.

Oil prices were mixed, with front-month global benchmark North Sea Brent crude up 0.5% at $110.95 per barrel and US West Texas Intermediate crude 0.8% lower at $104.21 per barrel.

The final Purchasing Managers' Manufacturing Index for April, due at 9:45 am ET, is seen coming in at 54.0, unchanged from its prior value, according to estimates compiled by Bloomberg.

The April Institute for Supply Management's services index, due at 10 am ET, is projected at 53.2, versus 52.7 previously.

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US equity futures were higher pre-bell Thursday as traders absorbed the latest round of financial results, including those of big tech, amid the Federal Open Market Committee maintaining its target rate.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.5% lower.Alphabet (GOOG, GOOGL), Amazon (AMZN), and Meta Platforms (META) all reported higher earnings and revenue for Q1, while Microsoft (MSFT) posted an increase in fiscal Q3 adjusted earnings and revenue. Apple (AAPL) is expected to publish its fiscal Q2 financial results after-market.The Federal Open Market Committee maintained the target range for its federal funds rate at 3.50% to 3.75%, as expected, but the level of dissent was reportedly the highest since 1992, with four officials dissenting.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.5% at $108.81 per barrel and US West Texas Intermediate crude 2.4% lower at $104.30 per barrel.The March core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, scheduled for release at 8:30 am ET, is expected to increase 0.3%, compared with the prior month's gain of 0.4%, according to estimates compiled by Bloomberg.Initial jobless claims are projected to have declined to 212,000 in the week ended April 25 from 214,000 in the prior week. The advance estimate for Q1 GDP is seen coming in at 2.3%, up from 0.5% in the previous quarter.

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