U.S. stock futures were steady on Wednesday night after the S&P 500 Index (SPX) and the Nasdaq hit new highs on hopes of a U.S.-Iran peace deal. Futures on the Dow Jones Industrial Average (DJIA) and the S&P 500 Index were up a modest 0.16% and 0.06%, respectively, while the Nasdaq 100 (NDX) futures were up 0.02% at 1:05 a.m. EDT on May 7.
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Trade QQQ with leverageAt the same time, oil prices trended slightly higher. Brent crude (CM:BZ) inched higher by 0.46% to around $101.74 per barrel, while WTI crude (CM:CL) rose 0.48% to about $95.54.
In the regular trading session, major stock indices closed higher as tech shares surged and oil prices fell on optimism over a potential U.S.-Iran peace deal. Also, the S&P 500 and the Nasdaq notched fresh intraday and closing records for a second straight session. The Nasdaq, the S&P 500, and the Dow rose 2%, 1.5%, and 1.2%, respectively.
A busy earnings slate awaits on Thursday, with McDonald’s (MCD), Datadog (DDOG), SoundHound (SOUN), Coinbase (COIN), Rocket Lab (RKLB), DraftKings (DKNG), Airbnb (ABNB), Iren (IREN), and Opendoor (OPEN) set to report.
Traders will also watch for several key economic reports, such as construction spending, initial jobless claims, consumer credit, and first-quarter preliminary unit labor costs.