US stock futures saw an uptick on Thursday evening as investors interpreted President Trump’s decision to delay potential military strikes on Iran’s energy infrastructure. This decision comes on the heels of a challenging trading day where major indices experienced significant declines.
Futures linked to the Dow Jones Industrial Average and the S&P 500 rose by approximately 0.4%, while Nasdaq 100 futures increased by about 0.3%. Earlier in the day, however, market sentiment was decidedly negative, with the S&P 500 falling 1.7% and the Nasdaq Composite experiencing a decline of 2.4%, officially entering correction territory. The Dow Jones also took a hit, losing more than 460 points. As a result, for the week, the S&P 500 and Nasdaq are down slightly, though the Dow is showing marginal gains.
Oil prices have remained high but have seen a slight pullback from intraday peaks. Brent crude was trading above $107 per barrel, and West Texas Intermediate hovered above $93. These fluctuations underscore the global ramifications of the ongoing tensions related to Iran.
Trump’s decision to extend the timeline for potential military action against Iran by more than a week appeared to provide some reassurance to investors, indicating a possible shift toward de-escalation. However, uncertainty persists, as reports suggest that Iran’s leadership is hesitant to engage in direct negotiations with Washington despite considering a US proposal.
On the domestic front, concerns about an impending recession are growing as oil price volatility threatens economic stability. The repercussions of these market dynamics have been reflected in the housing sector, where mortgage delinquencies have reached their highest levels since 2022. Additionally, employment figures released on Thursday indicated that job losses, particularly attributable to advancements in AI, were most pronounced in large technology companies, although the overall unemployment rate has remained stable.
In other corporate news, streaming service Netflix has raised subscription costs across all its plans in the United States. According to Reuters, the changes reflect the company’s efforts to expand its programming formats, including video podcasts and live sports. The ad-supported tier has increased from $7.99 to $8.99 per month, while its standard plan has seen a $2 increase, now priced at $19.99.
