Middle East Tensions and New U.S. Tariffs Impact Market Sentiment
U.S. stock futures edged higher on Friday as investors weighed escalating geopolitical tensions in the Middle East against positive corporate earnings from the technology sector. The market was also influenced by new U.S. trade tariffs, ongoing developments in artificial intelligence, and strong results from Intel. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all showed modest gains following a sell-off on Thursday triggered by renewed fighting between Iran-backed Houthi forces and Saudi oil tankers in the Red Sea. Rising energy prices pushed Brent crude above $100 per barrel temporarily before easing slightly to around $98.90. President Donald Trump introduced new import tariffs ranging from 10% to 12.5% on goods from 60 countries, targeting nations that have not adequately enforced bans on forced-labour-linked imports. Meanwhile, Intel reported better-than-expected second-quarter results and raised its revenue outlook for the third quarter.
Topics: Middle East tensions oil prices stock market reaction U.S. tariffs