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What is the story about?
Wall Street futures traded cautiously higher on Thursday after the benchmark S&P 500 touched fresh record highs, as hopes of a potential agreement between the US and Iran to end the ongoing conflict buoyed investor sentiment.
S&P 500 futures edged up 0.1%, while futures tied to the Dow Jones Industrial Average gained 44 points, or 0.1%. Nasdaq 100 futures, meanwhile, hovered near the flatline.
The upbeat mood came after a strong overnight session on Wall Street, where the S&P 500 and Nasdaq closed at all-time highs, while the Dow surged more than 600 points. Investor sentiment improved after an Axios report claimed that the US and Iran were nearing a deal to end the war.
According to the report, citing US officials and sources familiar with the matter, the White House is close to finalising a one-page, 14-point memorandum of understanding aimed at ending the conflict and laying the groundwork for detailed nuclear negotiations. Separately, an Iranian foreign ministry spokesperson told CNBC that Tehran was evaluating a proposal from the US for a possible resolution.
The possibility of easing geopolitical tensions also cooled oil prices, further supporting risk appetite across equities.
Among individual stocks, food delivery giant DoorDash jumped 10% in premarket trading after issuing strong second-quarter order guidance. Cybersecurity firm Fortinet also rallied 16% after raising its full-year billings forecast.
Apart from geopolitical optimism, a robust earnings season continued to underpin the market rally. Samantha McLemore, founder of Patient Capital Management, said the broader market momentum still had room to run.
Meanwhile, fresh labour market data pointed to growing pressure from artificial intelligence-led restructuring. According to a report by Challenger, Gray & Christmas, layoff announcements climbed 38% in April on a monthly basis to 83,387, although they remained 21% lower year-on-year.
The technology sector accounted for 33,361 planned job cuts, with AI-related restructuring driving 26% of the total layoffs for the second consecutive month. Hiring plans also weakened sharply, falling 69% sequentially and 38% from April 2025 level.
Also Read: India has every right to defend itself against cross-border terrorism from Pakistan: MEA
S&P 500 futures edged up 0.1%, while futures tied to the Dow Jones Industrial Average gained 44 points, or 0.1%. Nasdaq 100 futures, meanwhile, hovered near the flatline.
The upbeat mood came after a strong overnight session on Wall Street, where the S&P 500 and Nasdaq closed at all-time highs, while the Dow surged more than 600 points. Investor sentiment improved after an Axios report claimed that the US and Iran were nearing a deal to end the war.
According to the report, citing US officials and sources familiar with the matter, the White House is close to finalising a one-page, 14-point memorandum of understanding aimed at ending the conflict and laying the groundwork for detailed nuclear negotiations. Separately, an Iranian foreign ministry spokesperson told CNBC that Tehran was evaluating a proposal from the US for a possible resolution.
The possibility of easing geopolitical tensions also cooled oil prices, further supporting risk appetite across equities.
Among individual stocks, food delivery giant DoorDash jumped 10% in premarket trading after issuing strong second-quarter order guidance. Cybersecurity firm Fortinet also rallied 16% after raising its full-year billings forecast.
Apart from geopolitical optimism, a robust earnings season continued to underpin the market rally. Samantha McLemore, founder of Patient Capital Management, said the broader market momentum still had room to run.
Meanwhile, fresh labour market data pointed to growing pressure from artificial intelligence-led restructuring. According to a report by Challenger, Gray & Christmas, layoff announcements climbed 38% in April on a monthly basis to 83,387, although they remained 21% lower year-on-year.
The technology sector accounted for 33,361 planned job cuts, with AI-related restructuring driving 26% of the total layoffs for the second consecutive month. Hiring plans also weakened sharply, falling 69% sequentially and 38% from April 2025 level.
Also Read: India has every right to defend itself against cross-border terrorism from Pakistan: MEA
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