US stock futures saw a slight dip, with the S&P 500 contracts falling 0.2% and Nasdaq 100 and Dow Jones Industrial Average futures remaining largely unchanged. This occurred despite weaker oil prices, as diplomatic progress was noted in talks between the US and Iran. Brent crude dropped 1.6% towards $79 a barrel, and West Texas Intermediate crude fell 0.7% to $75.34 a barrel, in response to signs that a roadmap for a final deal was agreed upon between Washington and Tehran. However, President Donald Trump's threat to strike Iran if Hezbollah attacks Israel introduced some volatility, though a communication line was established to ensure safe passage for commercial vessels through the Strait of Hormuz.
In currency markets, the Bloomberg Dollar Spot Index rose 0.1%, while the euro fell 0.1% to $1.1459. The British pound was largely unchanged at $1.3241, despite UK Prime Minister Keir Starmer's resignation announcement, although it had briefly touched a 2026 low earlier. The Japanese yen fell 0.3% to 161.71 per dollar. Bond yields also saw movement, with the 10-year Treasuries advancing three basis points to 4.48%, Germany's 10-year yield declining two basis points to 2.96%, and Britain's 10-year yield declining three basis points to 4.81%.
Specific company news included a nearly 5% slide in SpaceX shares, putting the stock on track for a third consecutive loss. In contrast, chipmakers like Intel Corp. saw a rally. Getty Images Holdings Inc. experienced a significant surge, soaring more than 300% after announcing a display partnership with ChatGPT owner OpenAI. Bitcoin rose 0.4% to $64,017.46, and Ether increased by 1.5% to $1,745.77, while spot gold rose 1.3% to $4,208.90 an ounce.
