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US stock futures tick higher as oil slides and Intel rises
Brent futures fell more than 3% and WTI slipped 3%, while S&P 500 and Nasdaq-100 futures edged up after Intel gained about 4% in premarket following its quarterly results.
US stock futures rose modestly on Friday, with Brent crude futures down more than 3% to around $96.40 a barrel and WTI falling 3% to $88.75, after oil retreated from recent highs. S&P 500 futures added 0.2% and Nasdaq-100 futures rose 0.1%, while Dow Jones Industrial Average futures led gains, climbing 222 points or 0.4%, according to LiveMint Markets.
The move comes after Wall Street suffered steep declines in the previous session, and major indexes remained on track for a first back-to-back weekly decline since early in the Middle East conflict. Risk appetite stayed subdued as investors weighed the escalating conflict in the Middle East and renewed concern about whether large artificial intelligence investments by tech companies can deliver adequate returns.
LiveMint Markets said Intel jumped about 4% in premarket after reporting its second-quarter results, helping sentiment after the prior sell-off. The outlet also pointed to the sharp declines in Tesla and Alphabet in the earlier session, which were linked to investor worries over higher AI-related capital expenditure plans, increased cash burn, and potential pressure on profitability ahead.
On the macro side, LiveMint Markets cited initial jobless claims for the week ended 18 July at 187,000, below economists' expectations of 212,000, indicating continued resilience in the US labor market. The outlook also reflected expectations for a more hawkish Federal Reserve, which supported US Treasury yields even as traders tracked geopolitical risks.
Latest closeWTI crude $92.23 ▲6.2%|Brent $100.54 ▲6.9%|S&P 500 7,408.30 ▼1.2%