U.S. stock index futures turned lower in Asian trading on Thursday, after a report that Donald Trump is set to receive a briefing on potential military options against Iran weighed on risk appetite.
S&P 500 Futures fell edged down 0.2% to 7,156.75 points, while Nasdaq 100 Futures traded flat at 27,321.75 points by 03:32 ET (07:32 GMT). Dow Jones Futures fell 0.6% to 48,735.0 points.
S&P 500 futures and Nasdaq futures had climbed modestly earlier.
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Wall Street closed subdued on Wednesday, with the Dow Jones Industrial Average falling 0.6%. The S&P 500 and the NASDAQ Composite closed largely flat.
Fed holds rates steady; oil prices remain elevated An Axios report said Trump is expected to be presented with a range of new military options targeting Iran, including potential strikes on strategic assets.
The report comes amid heightened friction following recent disruptions linked to the Strait of Hormuz, a critical oil shipping route.
Oil prices surged sharply in response. Brent crude jumped above $125 per barrel, marking a four-year high.
A Wall Street Journal report late Wednesday said Washington is pitching a “Maritime Freedom Construct” to allies aimed at securing shipping lanes, even as tensions remain elevated and diplomatic efforts stall.
A day earlier, the Federal Reserve held interest rates steady for a third straight meeting, as widely expected, but signaled growing divisions within the committee.
Chair Jerome Powell, in what is expected to be his final meeting at the helm, warned that inflation pressures -- particularly from energy-- “haven’t even peaked yet,” underscoring a cautious policy outlook.
Powell also indicated he will remain on the Fed’s board as a governor after stepping down as chair.
’Mag 7’ stocks mixed post earnings After the closing bell, earnings from major technology firms drove after-hours moves.
Microsoft (NASDAQ:MSFT) shares were little changed after reporting better-than-expected earnings on strong cloud and AI demand.
Meta Platforms (NASDAQ:META) fell 7% after flagging lower capital expenditure.
Amazon (NASDAQ:AMZN) shares climbed 4% on earnings beat, while Alphabet (NASDAQ:GOOGL) jumped 7.2% on gains tied to advertising resilience.
More earnings are due on Thursday, with results from Caterpillar (NYSE:CAT), Merck (NYSE:MRK), Eli Lilly (NYSE:LLY) in the morning session. Apple (NASDAQ:AAPL) is scheduled to report later in the day.
A slew of economic data is also due on Thursday, including the advance estimate of first-quarter gross domestic product, alongside the personal consumption expenditures (PCE) index --the Fed’s preferred gauge of inflation.
