Stock futures trended higher on Wednesday morning despite the escalating U.S.-Iran conflict. Oil prices fell after Treasury Secretary Scott Bessent assured that the U.S. would make several announcements to ensure the flow of oil through the Persian Gulf. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.51%, 0.30%, and 0.23%, respectively, at 8:30 a.m. EST on March 4.
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During Tuesday’s regular trading, the three major indexes closed lower after early-session plunges marked some of their worst declines in years. The S&P 500 closed down 0.94%, while the tech-heavy Nasdaq Composite and the Dow Jones fell 1.02% and 0.83%, respectively.
Meanwhile, President Trump stated last night that the U.S. Navy stands ready to escort tankers through the Strait of Hormuz despite Iran’s actions.
Turning to trending stocks, Moderna (MRNA) shares rose more than 9% in Wednesday’s pre-market trading as the biotechnology company agreed to pay up to $2.25 billion to settle a Covid vaccine patent lawsuit with Arbutus Biopharma (ABUS) and Genevant Sciences GmbH.
Meanwhile, GitLab (GTLB) stock fell more than 11% after the software company issued a disappointing Fiscal 2027 outlook. In contrast, Ross Stores (ROST) stock jumped 7% after the off-price retailer reported upbeat fiscal first-quarter results.