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What is the story about?
US stocks were little changed at the open on Friday, July 24, as easing oil prices offered some relief following a sharp sell-off in the previous session, while investors continued to assess fresh US tariffs, elevated bond yields and concerns over AI spending by large technology companies.
The Dow Jones Industrial Average rose about 0.2%, while the S&P 500 hovered around the flatline. The Nasdaq Composite slipped 0.1%, extending pressure on technology stocks after Thursday's rout. Despite the muted start, all three major indexes remained on track to end the week in negative territory, with the Dow and S&P 500 down less than 1% each and the Nasdaq set to lose more than 1%.
Investor sentiment improved slightly as Brent crude retreated to around $97 a barrel, down about 3%, after briefly crossing the $100 mark earlier this week. US West Texas Intermediate (WTI) crude also fell about 2% to trade above $89 per barrel, easing concerns that surging energy prices could further fuel inflation.
Among individual stocks, Intel advanced after posting quarterly results that exceeded Wall Street expectations. However, the broader technology sector remained under pressure after Alphabet and Tesla triggered a sell-off on Thursday over rising AI-related spending, wiping out nearly $800 billion in combined market value from the "Magnificent Seven" stocks. Investors are also looking ahead to another busy week of Big Tech earnings and key economic data.
Dow futures rebound over 200 points as oil prices retreat; Intel gains after earnings
US stock index futures rose on Friday, July 24, with Dow futures gaining more than 200 points, as easing crude oil prices helped stabilise investor sentiment following a broad selloff in the previous session.
Dow Jones Industrial Average futures advanced 200 points, or 0.4%, while S&P 500 futures rose 0.2%. Nasdaq-100 futures edged 0.1% higher as investors attempted to recover from Thursday's losses, when megacap technology stocks weighed heavily on Wall Street.
Oil eases after West Asia-driven rally
The pullback in crude prices provided some relief after concerns over escalating tensions in West fueled a sharp rally in oil and triggered risk aversion across global markets.
On Thursday, US President Donald Trump said he was close to deciding on a "massive attack" on Iran as the conflict expanded into the Red Sea region.
"I am considering a massive attack. Bigger than ever before. I am close to making a decision. We are all set for it," Trump told Axios.
The comments came as US forces carried out a 13th consecutive night of strikes on Iranian targets, adding to geopolitical uncertainty.
Wall Street looks to recover after steep losses
The major US indexes ended sharply lower on Thursday. The Dow Jones Industrial Average fell more than 500 points, or around 1%, marking its fifth decline in six sessions.
The S&P 500 lost 1.2%, while the Nasdaq Composite dropped 2.2%, recording their steepest single-day declines since June 23, amid concerns over rising bond yields, higher oil prices and disappointing earnings from two megacap technology companies.
Earnings and economic data in focus
Among individual stocks, Intel gained in premarket trading after reporting quarterly earnings.
Investors are also awaiting S&P Global's flash Purchasing Managers' Index (PMI) readings for July covering the manufacturing and services sectors, along with new home sales data.
On the earnings front, American Express, NextEra Energy and Verizon Communications are among the companies scheduled to report quarterly results later in the day.
The Dow Jones Industrial Average rose about 0.2%, while the S&P 500 hovered around the flatline. The Nasdaq Composite slipped 0.1%, extending pressure on technology stocks after Thursday's rout. Despite the muted start, all three major indexes remained on track to end the week in negative territory, with the Dow and S&P 500 down less than 1% each and the Nasdaq set to lose more than 1%.
Investor sentiment improved slightly as Brent crude retreated to around $97 a barrel, down about 3%, after briefly crossing the $100 mark earlier this week. US West Texas Intermediate (WTI) crude also fell about 2% to trade above $89 per barrel, easing concerns that surging energy prices could further fuel inflation.
Among individual stocks, Intel advanced after posting quarterly results that exceeded Wall Street expectations. However, the broader technology sector remained under pressure after Alphabet and Tesla triggered a sell-off on Thursday over rising AI-related spending, wiping out nearly $800 billion in combined market value from the "Magnificent Seven" stocks. Investors are also looking ahead to another busy week of Big Tech earnings and key economic data.
Dow futures rebound over 200 points as oil prices retreat; Intel gains after earnings
US stock index futures rose on Friday, July 24, with Dow futures gaining more than 200 points, as easing crude oil prices helped stabilise investor sentiment following a broad selloff in the previous session.
Dow Jones Industrial Average futures advanced 200 points, or 0.4%, while S&P 500 futures rose 0.2%. Nasdaq-100 futures edged 0.1% higher as investors attempted to recover from Thursday's losses, when megacap technology stocks weighed heavily on Wall Street.
Oil eases after West Asia-driven rally
The pullback in crude prices provided some relief after concerns over escalating tensions in West fueled a sharp rally in oil and triggered risk aversion across global markets.
On Thursday, US President Donald Trump said he was close to deciding on a "massive attack" on Iran as the conflict expanded into the Red Sea region.
"I am considering a massive attack. Bigger than ever before. I am close to making a decision. We are all set for it," Trump told Axios.
The comments came as US forces carried out a 13th consecutive night of strikes on Iranian targets, adding to geopolitical uncertainty.
Wall Street looks to recover after steep losses
The major US indexes ended sharply lower on Thursday. The Dow Jones Industrial Average fell more than 500 points, or around 1%, marking its fifth decline in six sessions.
The S&P 500 lost 1.2%, while the Nasdaq Composite dropped 2.2%, recording their steepest single-day declines since June 23, amid concerns over rising bond yields, higher oil prices and disappointing earnings from two megacap technology companies.
Earnings and economic data in focus
Among individual stocks, Intel gained in premarket trading after reporting quarterly earnings.
Investors are also awaiting S&P Global's flash Purchasing Managers' Index (PMI) readings for July covering the manufacturing and services sectors, along with new home sales data.
On the earnings front, American Express, NextEra Energy and Verizon Communications are among the companies scheduled to report quarterly results later in the day.
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