Markets Cautious Ahead of US Jobs Data, Iran Talks
Global markets traded cautiously on Thursday, with S&P 500 futures edging up while Nasdaq 100 dipped. Oil held near $80 after Iran’s shipping route deal, but broader uncertainty kept safe-haven demand alive.
Equity futures were mixed in pre-market trade as investors braced for Friday's US nonfarm payrolls report. S&P 500 futures nudged higher, but Nasdaq 100 contracts declined, dragged by tech weakness. AI-linked stocks stayed under pressure after Alphabet announced a bond sale and memory chip makers Sandisk and Western Digital reported disappointing earnings.
Oil prices hovered near $80 a barrel following news that Iran and Oman agreed on a proposed shipping corridor through the Strait of Hormuz. The gain was capped as uncertainty lingered over a broader US-Iran deal. Treasury yields rose, while gold advanced on safe-haven flows.
All eyes remained on the upcoming jobs report, which is expected to shape market bets on the Federal Reserve's next rate move.
Source: First Squawk