US equity futures slipped from record levels as uncertainty over Middle East energy supplies weighed on the macroeconomic outlook. S&P 500 and Nasdaq 100 futures edged lower, while Dow Jones Industrial Average contracts fell by more than 200 points.
Oil prices held higher on the week amid reports that clashes between Israel and Lebanon were continuing, despite former US President Trump’s indication of a cease-fire—something Iran said was a prerequisite for restarting peace talks and reopening the Strait of Hormuz.
In premarket trading, JPMorgan and Procter & Gamble declined, putting pressure on more traditional, economically sensitive sectors. At the same time, software stocks retreated, giving back part of yesterday’s gains as investors questioned the durability of AI-related spending.
Alphabet fell 2% after announcing plans to issue $80 billion in equity to finance AI infrastructure investments, a notable shift from its recent pattern of consistent share buybacks. In contrast, Hewlett Packard Enterprise jumped nearly 30% on AI-driven guidance upgrades, and Marvell Technology soared 20% after Nvidia CEO Jensen Huang suggested it could become the next trillion‑dollar company.
