Update: Tech Stock Decline, Oil Price Increase Dampen US Equity Futures Pre-Bell
(Updates with stock and oil price moves, and additional details from sixth paragraph onward.) US equity futures were mostly lower pre-bell Tuesday as technology-related stocks dropped and oil prices rose after a couple of vessels were damaged in the Strait of Hormuz, potentially complicating peace talks to end the US-Iran war. Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.8% lower. The tech sell-off started in Asia-Pacific markets, with Samsung Electronics stock registering a 6.9% decline despite posting an all-time quarterly record profit of $58.5 billion in Q2 and surpassing market expectations. A Qatari LNG tanker and a Saudi-flagged crude oil ship were damaged near the Strait of Hormuz, The Islamic Revolutionary Guard Corps had fired at least two missiles at commercial vessels passing through the waterway on Monday night, according to an Axios report that cited two US officials. Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1% at $72.69 per barrel and US West Texas Intermediate crude 1% higher at $69.22 per barrel. The US international trade deficit.
(Updates with stock and oil price moves, and additional details from sixth paragraph onward.) US equity futures were mostly lower pre-bell Tuesday as technology-related stocks dropped and oil prices rose after a couple of vessels were damaged in the Strait of Hormuz, potentially complicating peace talks to end the US-Iran war.
Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.8% lower.
The tech sell-off started in Asia-Pacific markets, with Samsung Electronics stock registering a 6.9% decline despite posting an all-time quarterly record profit of $58.5 billion in Q2 and surpassing market expectations.
A Qatari LNG tanker and a Saudi-flagged crude oil ship were damaged near the Strait of Hormuz, The Islamic Revolutionary Guard Corps had fired at least two missiles at commercial vessels passing through the waterway on Monday night, according to an Axios report that cited two US officials.
Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1% at $72.69 per barrel and US West Texas Intermediate crude 1% higher at $69.22 per barrel.
The US international trade deficit.