Stock futures experienced a decline on Thursday as oil prices saw a resurgence, driven by diminishing expectations for a peace agreement between the U.S. and Iran. Meanwhile, investors were assessing Nvidia’s most recent quarterly performance. Futures for the Nasdaq 100, S&P 500, and Dow Jones Industrial Average experienced declines of 0.5%, 0.4%, and 0.3%, respectively, in the latest trading session. Yesterday, the tech-heavy Nasdaq Composite, blue-chip Dow, and benchmark S&P 500 all experienced increases of at least 1% in anticipation of Nvidia’s earnings report. The Dow saw an addition of nearly 650 points, while both the S&P 500 and Nasdaq ended their three-session declines. After the closing bell, Nvidia posted better-than-expected results and issued rosy revenue guidance, but shares edged lower in premarket trading Thursday.
Oil prices experienced a decline of nearly 6% yesterday, prompted by a report indicating that President Donald Trump stated the U.S. was in the “final stages” of negotiations with Iran to conclude the conflict. This downward trend continued with an initial further pullback early Thursday. However, crude futures turned higher following a report indicating that Iran’s Supreme Leader had issued a directive stating that the nation’s near-weapons-grade uranium should not be sent abroad, contrary to a condition set by the U.S. to conclude the conflict. West Texas Intermediate futures, the U.S. crude oil benchmark, recently increased by 2.8% to approximately $101 a barrel, while front-month contracts of Brent crude, the global benchmark, experienced a rise of 2.2% to $107.30. The 10-year Treasury yield, a key determinant of interest rates on mortgages and various consumer loans, had decreased to 4.57% from the previous day’s closing level exceeding 4.59%, but subsequently reversed direction and was recently observed at 4.61%.
On Tuesday, it reached 4.69%—the highest intraday level observed since January 2025. Gold futures declined by 0.4%, settling at $4,515 per ounce. Bitcoin was at $77,200, experiencing a slight decline over the past 24 hours. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, increased by 0.2% to 99.27. IBM stock jumped 6% after the company announced it will receive a $1 billion CHIPS and Science Act award from the U.S. Department of Commerce to build an American quantum chip foundry. D-Wave Quantum and Rigetti Computing shares experienced a notable increase of approximately 15% following the announcement of smaller awards. In the aftermath of earnings reports, Walmart experienced a decline of nearly 2%, Deere & Co. saw a drop of 3%, while NIO recorded an increase of 3.5%. Williams-Sonoma and Ralph Lauren also were set to report results before the bell. Intuit stock sank 13% after it announced plans to lay off 17% of its workforce “to simplify its organisational structure and become a faster, leaner, more focused company.
Elon Musk’s Space Exploration Technologies, commonly referred to as SpaceX, submitted its S-1 filing to the Securities and Exchange Commission late yesterday. It is set to debut as early as next month on the Nasdaq exchange, and it is anticipated to be the largest IPO in history. In other planned IPO developments, The Wall Street Journal reported Wednesday that OpenAI, under the leadership of Musk’s competitor Sam Altman, intends to confidentially submit a prospectus as soon as Friday. SoftBank’s shares experienced a significant increase of 20% during today’s trading session in Tokyo; the Japanese conglomerate holds a substantial investment in OpenAI.