Stock futures trended lower early Thursday on uncertainty over the resolution of the U.S.-Iran conflict. Investors continue to monitor developments in the Middle East after Iran ruled out direct talks with the U.S. despite senior officials in Tehran reportedly reviewing a proposal to end the war. Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.76%, 0.63%, and 0.51%, respectively, at 5:22 a.m. EDT on March 26.
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After yesterday’s decline, oil prices moved higher this morning due to persistent geopolitical tensions. At the time of writing, the international oil benchmark Brent (CM:BZ) was up 3.27% to $105.56 per barrel, while West Texas Intermediate (WTI) crude (CM:CL) increased 3.33% to trade at $93.33 per barrel.
During Wednesday’s regular trading, the three major indexes ended higher on hopes of a ceasefire. The Dow Jones and the Nasdaq Composite rose 0.66% and 0.77%, respectively, while the S&P 500 gained 0.54%.
Meanwhile, the U.S. 10-year Treasury yield inched higher to 4.37%. Additionally, the Spot Gold U.S. dollar price hovered around $4,477 per ounce on Thursday.
Elsewhere, European indexes opened lower as hopes of a ceasefire between the U.S. and Iran faded.
Asia-Pacific Markets Ended Lower
Asia-Pacific markets fell on Thursday as Iran indicated that it is not interested in holding direct talks with the U.S. to end the war.
Hong Kong’s Hang Seng Index fell 1.89%. In China, the Shanghai Composite was down 1.09%, while the Shenzhen Component lost 1.41%. Meanwhile, Japan’s Nikkei closed lower by 0.27%, while the Topix declined 0.22%.