U.S. stock futures trended lower on Thursday morning after Israel’s fresh strikes on Hezbollah targets escalated tensions in the Middle East and triggered uncertainty over a two-week ceasefire between the U.S. and Iran, driving oil prices higher again. Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.17%, 0.27%, and 0.38%, respectively, at 8:34 a.m. EST on April 9.
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Trade QQQ with leverageAt the time of writing, the international oil benchmark Brent (CM:BZ) rose 3.32% to $97.90 per barrel, while West Texas Intermediate (WTI) crude (CM:CL) was up 4.99% at $99.12 per barrel.
The pullback in futures follows sharp rebounds yesterday, fueled by President Donald Trump’s announcement of a U.S.-Iran ceasefire, which was mainly tied to the reopening of the Strait of Hormuz. During Wednesday’s regular trading, the S&P 500 climbed 2.51%, while the Nasdaq Composite rose 2.80%. The Dow Jones surged 2.85%, marking its strongest day since April 2025.
Meanwhile, the Commerce Department reported that the headline personal consumption expenditures (PCE) price index, the U.S. Federal Reserve’s preferred inflation gauge, rose 2.8% in February. Meanwhile, the core PCE index, which excludes food and energy, rose by a seasonally adjusted 3% in February, in line with expectations.
Turning to trending stocks, CoreWeave (CRWV) shares rose more than 2% after the cloud company announced a $21 billion expanded infrastructure deal with Meta Platforms (META). Also, Datadog (DDOG) stock was up 2.5% as Guggenheim upgraded its rating for the software company to Buy from Hold, saying that it is the primary beneficiary of AI-led growth in data volumes and IT complexity.