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U.S. stock futures edge higher as earnings and Middle East tensions play out
S&P 500 and Nasdaq futures were up 0.1% and 0.4% respectively, while WTI climbed nearly 1% to about $80 a barrel as strikes around the Strait of Hormuz continued.
U.S. stock futures were slightly higher Wednesday morning as investors weighed a wave of earnings from major companies and monitored developments in the Middle East, according to Yahoo Finance. Futures tied to the S&P 500 were up 0.1%, while Nasdaq-linked futures rose 0.4%, while Dow Jones Industrial Average futures were near unchanged.
Oil prices were also firmer, with WTI crude up nearly 1% to around $80 a barrel as the U.S. and Iran continued exchanging strikes near the Strait of Hormuz. Yahoo Finance noted that Iran's Revolutionary Guard has threatened to halt energy exports from across the Middle East if the conflict continues.
In company-specific moves, PayPal shares were surging on a report that Stripe and Advent International made a joint offer to buy the payments company. ASML shares gained after the chip manufacturing equipment maker reported strong results and raised its sales forecast, Yahoo Finance said.
The report also pointed to other major names reporting earnings Wednesday, including Morgan Stanley, Johnson & Johnson, Conagra, and United Airlines. Broader market context from the outlet included a rebound in chip stocks after an uneven start to the week, though IBM shares fell sharply and capped the Dow's gains on Tuesday.
Latest closeWTI crude $79.00 ▼0.8%|S&P 500 7,533.77 ▼0.5%|Nasdaq Comp. 25,881.95 ▼1.5%