U.S. equity futures traded little changed Thursday, consolidating gains from the previous two sessions as investors balanced strong corporate earnings against ongoing uncertainty surrounding energy supply negotiations in the Middle East.
Futures tied to the S&P 500 and the Nasdaq-100 hovered near record levels, while the Dow Jones Industrial Average remained within roughly 100 points of its February all-time high.
Markets continued to monitor developments involving Iran and the United States after Tehran confirmed it was reviewing a memorandum aimed at ending the conflict and restoring tanker traffic through the Strait of Hormuz — a critical artery for global oil and energy flows.
The prospect of resumed energy exports from the region has pressured commodity prices lower throughout the week, easing concerns over supply disruptions and supporting global bond markets. The decline in energy prices has also tempered expectations that the Federal Reserve may need to maintain higher interest rates for longer.
In corporate earnings, McDonald’s rose 3% in premarket trading after reporting stronger-than-expected results, supported by resilient consumer demand and optimistic sector guidance from DoorDash. Cybersecurity firm Fortinet surged 15% following its earnings release, outperforming broader technology peers.
Semiconductor stocks were more subdued after Wednesday’s rally. Advanced Micro Devices (AMD) traded flat in premarket activity after soaring 19% in the prior session, driven by stronger guidance tied to artificial intelligence demand.
