Stock futures moved higher on Thursday morning on hopes of a possible deal between the U.S. and Iran. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.17%, 0.10%, and 0.18%, respectively, at 8:30 a.m. EDT on April 16.
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Yesterday, the S&P 500 and the Nasdaq Composite hit fresh intraday highs and closed at new records, rising 0.80% and 1.59%, respectively, as investors looked past the U.S.-Iran war. The S&P 500 closed above 7,000 for the first time, while the Nasdaq Composite finished above 24,000. Meanwhile, the Dow Jones slipped 0.15%.
Oil prices moved higher amid tensions in the Middle East. At the time of writing, the international oil benchmark Brent (CM:BZ) rose 0.77% to $95.72 per barrel, while West Texas Intermediate (WTI) crude (CM:CL) gained 0.13% to $91.42 per barrel.
Turning to trending stocks, PepsiCo (PEP) shares rose more than 1% in Thursday’s pre-market trading after the consumer staples giant reported upbeat first-quarter results. Also, PPG Industries (PPG) stock was up 4% after the paint and coatings manufacturer announced a 20% global price hike across its portfolio.
Additionally, Voyager (VOYG) stock rallied 9% as the space tech company was selected by NASA for its seventh private astronaut mission to the International Space Station. In contrast, shares of Taiwan Semiconductor Manufacturing Company (TSM) were down 1.7% even after the chip giant reported a 58% jump in profit for its latest quarter.