U.S. stock futures rebounded early Wednesday despite escalating tensions from the U.S.-Iran conflict. Oil prices surged after reports that Iran’s Revolutionary Guard seized control of the Strait of Hormuz, warning ships to stay clear and halting tanker traffic through this key global oil corridor.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.30%, 0.22%, and 0.10%, respectively, at 5:31 a.m. EST on March 4.
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%, the tech-heavy Nasdaq dropped 1.02%, and the Dow fell 0.83%.
President Trump stated last night that the U.S. Navy stands ready to escort tankers through the Strait of Hormuz despite Iran’s actions. Nonetheless, oil prices continued rising on supply fears, with Brent crude up 2.55% at $83.95 per barrel, near its highest since January 2025.
Turning to the economic calendar, data on ADP private payrolls will be released today.
On the earnings front, notable companies reporting today include Broadcom (AVGO), Rigetti Computing (RGTI), ChargePoint (CHPT), Okta (OKTA), and Beyond Meat (BYND).
Notably, the U.S. 10-year Treasury yield was up, floating near 4.08%. WTI crude oil futures shot up to about $76.60 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price traded around $5,195 per ounce on Wednesday.
Elsewhere, European indexes opened higher today amid a slew of corporate earnings releases and Middle East tensions.
Asia-Pacific Markets Trade Lower
Asia-Pacific markets fell on March 4 as the Iran conflict weighed on sentiment.
Hong Kong’s Hang Seng Index declined 2.01%. In China, the Shanghai Composite fell 0.98%, while the Shenzhen Component dropped 0.71%. Meanwhile, Japan’s Nikkei shed 3.61%, with the Topix down 3.67%.