U.S. stock futures moved lower Thursday as investors weighed major technology earnings against a rise in geopolitical risk. Higher crude prices added pressure after reports of U.S. and Israeli planning for possible military action against Iran following the November 3 elections.
At 4:24 p.m. (Bangkok Time), futures tied to the S&P 500 declined 1.02%, while Nasdaq-100 contracts lost 1.75%. Dow Jones Industrial Average futures were down 0.63%. The weakness extended across global markets as traders monitored corporate results and the impact of rising oil prices.
The pullback followed gains in the prior U.S. session. The S&P 500 advanced for a third straight day, the Dow Jones Industrial Average added 360.21 points, and the Nasdaq Composite rose 1.05%, helped by momentum linked to SpaceX and Tesla.
Big Tech earnings offered a mixed signal before the opening bell. Meta Platforms rose 0.74% earlier in premarket trading after the Facebook and Instagram owner topped revenue expectations and issued an upbeat forecast for the current quarter. Tesla, despite posting third-quarter revenue and profit above estimates, fell 5.39% ahead of the market open.
Energy markets reacted to renewed concern over Middle East supply risks. Brent crude advanced 2.78% to $111.85 a barrel, while West Texas Intermediate climbed 2.03% to $99.18. Investors were assessing potential disruption to Gulf energy flows after reports of military preparations and recent regional attacks.
The New York Times reported Wednesday that U.S. and Israeli military officials had prepared options for new strikes on Iranian nuclear sites, energy assets and missile capabilities after the elections, citing people familiar with the matter. Defense Secretary Pete Hegseth met Israeli Prime Minister Benjamin Netanyahu this week as military drills increased.
President Donald Trump has said the United States will not strike Iran before the November 3 midterm elections. A White House official told the New York Times that the administration would not address possible military plans and that Trump was still reviewing available choices.
Reuters reported separately that the U.S. State Department instructed some diplomats and family members to leave missions in Saudi Arabia after Houthi attacks. Iranian officials have warned that new U.S. or Israeli strikes could lead to wider retaliation in the region, while talks with Washington have stalled and Tehran remains doubtful about Trump’s intentions before the vote.
Investors will turn Thursday to additional earnings from Procter & Gamble, Lockheed Martin, Valero Energy and Honeywell. Weekly initial jobless claims are also due Thursday morning.
