Traders work on the floor of the New York Stock Exchange during morning trading on July 08, 2026 in New York City.
Michael M. Santiago | Getty Images
S&P 500 futures were near flat Wednesday evening after the market sold off on renewed U.S.-Iran tensions and a jump in oil prices
S&P 500 futures were marginally lower. Futures tied to the Dow Jones Industrial Average were down 28 points, or less than 0.1%. Nasdaq 100 futures advanced 0.3%
In Asia, South Korea’s Kospi surged on Thursday after falling into a bear market the day before. It advanced 2.88%, while the small-cap Kosdaq gained 3.67%. Japan’s Nikkei 225 added 1.88% and the Topix was 0.36% higher. Australia’s benchmark S&P/ASX 200 was 0.69% lower
Hong Kong Hang Seng Index inched 0.16% higher, while mainland China’s CSI 300 was flat
The U.S. launched fresh strikes on Iran in response to Tehran’s attacks on commercial shipping in and around the Strait of Hormuz, U.S. Central Command said Wednesday afternoon. West Texas Intermediate crude futures were last up nearly 1%
Earlier in the day, President Donald Trump said he may no longer be interested in negotiating a deal with Iran. Prior to that, he said that the ceasefire between the U.S. and Tehran is “over” after another wave of attacks in the Middle East
“Any assumption of a swift return to normalized Persian Gulf exports is certainly being challenged,” said Mason Mendez, global real assets analyst at Wells Fargo Investment Institute. “Given the reduced supply buffer of already low global reserves and inventories, any further escalations are likely to re-enforce a higher geopolitical risk premium in oil prices – even when negotiations eventually resume.”
In regular trading, the Dow dropped 576.76 points, or 1.1%, while the S&P 500 fell 0.28%. Both indexes were weighed down by a spike in oil prices. The Nasdaq Composite, however, rose 0.2%, aided by an advance in Nvidia and other chip stocks
Investors feared that rising energy costs could reignite inflation, forcing the Federal Reserve to keep interest rates elevated for longer than previously expected. Minutes from the Fed’s June meeting underscored that uncertainty, revealing a divided central bank reluctant to cut rates until officials see clearer evidence that inflation is moving sustainably toward its target
On Thursday, traders will watch for the weekly jobless claims report at 8:30 a.m. ET and existing home sales at 10 a.m. PepsiCo will also report earnings before the bell
“Heading into Thursday, oil prices likely will be top of mind,” Mendez said. “These renewed geopolitical risks could fuel near-term risk-off sentiment, however, trends of strong equity earnings momentum and ongoing AI strengths will likely continue to drive the S&P 500 Index towards our year-end target range of 7,800 to 8,000.”
22 Min Ago
AirPods-maker Luxshare falls over 5% in Hong Kong debut
Shares of Luxshare Precision Industry fell more than 5% in their Hong Kong trading debut Thursday, as investors cheered the market entry of the Apple supplier
The company, which is already listed in Shenzhen, had priced shares in the IPO at 63.28 Hong Kong dollars apiece, raising HK$24.27 billion ($3.09 billion). The stock was trading at HK$60 in early trading
From being an assembler of Apple’s AirPods, Luxshare has evolved into a supplier of parts for a broader set of consumer and automotive electronics, as well as communications products
3 Hours Ago
South Korea’s Kospi rises nearly 3% after entering a technical bear market in prior session
Asia-Pacific markets traded mixed early Thursday, with the Kospi surging after falling into a bear market the day before
Japan’s Nikkei 225 added over 1.17% while the Topix was 0.20% higher
The Kospi advanced 2.92% at open, while the small-cap Kosdaq rose 1.28%
Australia’s benchmark S&P/ASX 200 was 0.83% lower
—Justina Lee
4 Hours Ago
Asia-Pacific markets are set to open mixed as renewed Iran-U.S. tensions dent sentiment
Asia-Pacific markets were set to open mixed Thursday, amid renewed U.S.-Iran tensions that pushed oil prices higher
Japan’s Nikkei 225 was poised to rise, with the Chicago futures contract at 67,825 while its Osaka counterpart last trading at 67,700, compared with the index’s previous close of 66,819.05
Futures for Hong Kong’s Hang Seng index last traded at 23,983, lower than the index’s close of 24,199.46
Australia’s S&P/ASX 200 futures last traded at 8,706, while the S&P/ASX 200′s closed at 8,785.10
The U.S. Central Command said Wednesday that fresh strikes on Iran were launched in response to Tehran’s attacks on commercial shipping in and around the Strait of Hormuz
U.S. President Donald Trump also signaled earlier in the day that he was no longer interested in negotiating a deal with Iran. Prior to that, he also said that the ceasefire between Iran and the U.S. was”over,” following another wave of attacks in the Middle East
—Justina Lee
5 Hours Ago
Stocks making the biggest moves after hours
These are the stocks making the biggest moves in extended trading:
- Levi Strauss: Shares of the denim giant dropped 5.5% after hours despite beating second-quarter expectations on the top and bottom lines and raising its guidance and dividend.
- AZZ Inc: The metal coating solutions provider jumped after it reported earnings per share of $1.85 for the latest quarter compared to analyst expectations of $1.69, according to FactSet. Revenue of $448.5 million topped estimates or $434.6 million.
— Tanaya Macheel
5 Hours Ago
Stock futures open lower
Futures tied to the Dow Jones Industrial Average opened lower by 74 points, or 0.1%, Wednesday night. S&P 500 futures and Nasdaq 100 futures each fell 0.1% as well
— Tanaya Macheel
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