Futures are modestly in the red as markets are easing lower this morning. The pullback reflects a combination of profit-taking and renewed geopolitical uncertainty. The primary driver is once again oil. Despite the extended ceasefire, tensions in the Strait of Hormuz have picked back up, with reports of shipping disruptions and enforcement actions pushing crude back above the $100 level.
Claim 55% Off TipRanks
Trade IBM with leverageEquities were coming off fresh highs, and sentiment had started to lean more constructive. This pullback has investors trimming exposure as the probability of a clean resolution in the Middle East gets pushed further out.
Earnings are adding complexity. Some large-cap names are struggling despite solid headline results, as guidance and forward expectations take precedence over backward-looking performance.
In pre-market trading, S&P 500 futures fell 0.28%, Nasdaq futures fell 0.27% and Dow futures fell 0.53%.
Check out this morning’s top movers from around Wall Street, compiled by The Fly.
UP AFTER EARNINGS –
- United Rentals (URI) up 15%
- West Pharmaceutical (WST) up 13%
- Texas Instruments (TXN) up 9%
- Comcast (CMCSA) up 6%
- STMicroelectronics (STM) up 6%
- American Airlines (AAL) up 2%
- Union Pacific (UNP) up 1%
DOWN AFTER EARNINGS –
- ServiceNow (NOW) down 13%
- Freeport-McMoRan (FCX) down 8%
- Thermo Fisher (TMO) down 7%
- IBM (IBM) down 7%
- Honeywell (HON) down 5%
- Lockheed Martin (LMT) down 4%
- Tesla (TSLA) down 3%
- Blackstone (BX) down 2%
- American Express (AXP) down 1%
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAL:
- American Airlines says Q2 revenue view ‘eye-popping,’ ‘feel good about it’
- American Airlines says ‘will be sharp with capacity’ beyond summer peak
- American Airlines Posts Record Q1 Revenue Amid Ongoing Loss
- American Airlines cuts FY26 adjusted EPS view to (40c)-$1.10 from $1.70-$2.70
- American Airlines sees Q2 adjusted EPS (20c)-20c, consensus (10c)