Dow, S&P 500, Nasdaq Set to Open Up; Micron, Intel, Nvidia, More Movers; Trump Iran Fears Ease
Stock futures were rising on Friday, putting the market on course to extend a recent rebound as geopolitical tensions cooled and strong earnings from chip maker Taiwan Semiconductor Manufacturing continued provide a boost.
Futures tracking the Dow Jones Industrial Average climbed 42 points, or 0.1%. S&P 500 futures gained 0.3% and contracts tied to the tech-heavy Nasdaq advanced 0.6%.
The three indexes all closed in the green on Thursday after TSMC’s rock-solid results eased fears about the AI boom fizzling out. Investors were also reassured by President Donald Trump downplaying the chances of military action in Iran. Officials late Thursday said the White House would for now monitor how Tehran deals with protesters before deciding on the scale of any potential attack.
“There wasn’t a particular obvious catalyst which one can point to as having ‘steadied the ship’ [on Thursday],” Michael Brown, strategist at the foreign-exchange brokerage Pepperstone, said. “Though we have seen a degree of policy uncertainty fading, given the apparent reduction in risks of a U.S. intervention in the Middle East, as well as solid earnings from TSMC having re-enthused the tech bulls.”
Oil prices took a breather on Friday, having slumped the previous session after Trump backed away from a potential strike on Iran. The Brent international benchmark was flat at $63.73 a barrel and West Texas Intermediate U.S. crude prices were unchanged at $59.08 a barrel.
The yield on the 10-year Treasury note slipped 1 basis point to 4.17%. The dollar was 0.1% lower against a weighted basket of its peers, and gold futures slipped 0.3% to $4,609 an ounce.
