US futures traded lower on Friday despite comments that appeared to ease market concerns over the ongoing conflict between the US, Israel, and Iran. Investors weighed these remarks, which provided some relief after recent volatility driven by geopolitical tensions.
At 4:32 p.m. (Bangkok Time), Dow Jones futures slid by 0.12%. S&P 500 futures contracted 0.16%, and Nasdaq-100 futures dipped 0.30%. Major indices remain on track for a fourth consecutive week of declines. On Thursday, the S&P 500 and Dow Jones closed lower by 0.27% and 0.44%, respectively, while the Nasdaq Composite had slipped 0.28%.
Energy markets fluctuated as oil prices moved mixed on Friday. This followed statements from Israel pledging support for US efforts to reopen the Strait of Hormuz, an essential global shipping route currently affected by the threat of Iranian military action. On Friday, Brent crude futures gained 0.84% to trade at $109.56 per barrel, while West Texas Intermediate futures declined 0.29% to $95.27.
On the monetary policy front, the Federal Reserve suggested that one interest rate cut remains possible for this year, but comments from Chair Jerome Powell led investors to expect rates to stay unchanged in the near term.
In corporate news, most companies have already reported quarterly results. GameStop and Carnival are among the few major firms scheduled to release earnings reports next week.
