US Equity Futures Drop as Investors Cautious Amid Stalled US-Iran Peace Talks

MT Newswires Live04-23 19:58

US equity futures were lower pre-bell on Thursday as the market turned wary on the lack of clarity regarding the Middle East situation, with peace talks stalled indefinitely after President Donald Trump extended the ceasefire.

Dow Jones Industrial Average futures were 0.6% lower, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.3% lower.

Iran said Wednesday it had captured two container vessels in the Strait of Hormuz, while the US is maintaining its blockade of Iranian ports.

Trump has said that the ceasefire is extended until Iran's "fractured" government can come up with a unified proposal regarding the end of the conflict.

Traders took note of today's round of earnings, with American Express (AXP) posting higher Q1 earnings and revenue and Thermo Fisher Scientific (TMO) posting increases in fiscal Q1 adjusted earnings and revenue. Intel (INTC) and SAP (SAP) are set to report their results after-market.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.7% at $102.61 per barrel and US West Texas Intermediate crude 0.6% higher at $93.55 per barrel.

Initial jobless claims are projected to have increased to 210,000 in the week ended April 18 from 207,000 the prior week, according to estimates compiled by Bloomberg.

The Chicago Fed National Activity Index, due at 8:30 am ET, is seen coming in at negative 0.13 in March, compared with negative 0.11 in the prior month.

The April S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen coming in at 50.6.

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