Stock Index Futures Rise as Oil Prices Drop and Market Awaits Key Economic Data
On Friday morning, stock index futures showed gains amid a decline in oil prices and lower Treasury yields. September S&P 500 E-Mini futures rose by +0.25%, while Nasdaq 100 E-Mini futures increased by +0.14%. The drop in WTI crude prices exceeded -3% for the day, offering some relief to markets despite ongoing U.S.-Iran tensions and continued military strikes reported by U.S. Central Command. The market was also influenced by a rebound among members of the Magnificent Seven following yesterday's selloff, with Intel (INTC) rising over +6% in pre-market trading after exceeding earnings expectations. However, this did not revive broader AI-related stocks as most chipmakers declined. Investors are now looking ahead to U.S. business activity data and a new round of corporate earnings reports. The previous day saw sharp declines across major indices with Tesla (TSLA) falling over -14% due to weaker-than-expected results, while Alphabet (GOOGL) dropped more than -7%. The Labor Department reported an unexpected drop in initial jobless claims to 187K—the lowest since 1969—further influencing market sentiment.
Tickers: $GOOGL $INTC $SPGI $TSLA
Topics: bond_yields geopolitical_tensions oil_prices stock_index_futures