U.S. stock futures were mixed but mostly steady late Thursday as investors weighed escalating tensions in the Strait of Hormuz and higher oil prices ahead of Friday’s key jobs report.
As of 9.30 p.m. ET, Nasdaq 100 futures were up 0.1%, while S&P 500 futures were down by 0.05%. Dow futures were down 0.1%.
On Stocktwits, retail sentiment toward the was ‘bullish’ amid ‘high’ message volume, while sentiment toward the was ‘bearish’ amid ‘normal’ message volume, and sentiment toward the was ‘neutral’ amid ‘normal’ message volume.
US Market Drivers
Markets were caught between hopes for a deal to reopen the Strait of Hormuz and reports that Iran was seeking to restrict U.S. and Israeli vessels from the critical waterway. Iran’s Fars news agency reported that Iranian forces struck “hostile targets” near the strait on Thursday night. Local media also said that Tehran could bar U.S., Israeli and other “hostile” vessels under a proposed agreement with Oman.
The developments clouded earlier optimism that Iran and Oman were nearing a temporary deal to restore shipping without fees or tolls. U.S. President Donald Trump said that negotiations were “going fine” and expects the war to end “pretty soon.”
West Texas Intermediate crude rose above $78 per barrel in early Friday trading after settling Thursday 2.8% higher at $77.29. Brent crude jumped 3.8% to $82.49.
Higher energy prices revived inflation concerns and the risk that the Federal Reserve may keep rates elevated. Markets are pricing in a 60% chance of a September rate hike. “Looking at 178 components to core PCE and we continue to see inflation broadening out,” Carson Group Chief Market Strategist Ryan Detrick said on X. He noted that 52% of components had inflation above 3% from the previous year, up from 41% in April 2025.
Investors now await Friday’s closely watched July payrolls report. Economists surveyed by The Wall Street Journal expect nonfarm payrolls to have increased by 83,000, following June’s 57,000 gain. The unemployment rate is forecast to remain at 4.2%, while average hourly earnings are expected to rise 0.3% from the previous month and 3.5% year-over-year.
U.S. stocks ended lower for a second consecutive session on Thursday:
| IndexMoveClose | Dow Jones Industrial Average-0.85%53,885.10 | S&P 500-0.18%7,709.96 | Nasdaq Composite-0.06%26,348.35 |
Salesforce fell 3% after a leadership reshuffle. AppLovin plunged nearly 20% on mixed results, while Datadog sank 19% after forecasting slower third-quarter revenue growth. Western Digital tumbled 13% on a disappointing outlook, and Sandisk dropped 7% after earnings.
On the other hand, SpaceX bucked Thursday’s decline, reversing earlier losses to close 6% higher as the lockup period for early investors expired without triggering the wave of insider selling some traders had feared.
Trending Stocks To Watch On NYSE, Nasdaq
The Trade Desk (TTD): Shares plunged 24% in extended trading after Q2 revenue of $715 million missed the $751.6 million estimate. Earnings came in at $0.34 per share, below the $0.40 forecast. The company expects third-quarter revenue of at least $650 million.
Wendy’s (WEN): Shares fell 8% during Thursday’s session ahead of the restaurant chain’s results on Friday. Koyfin analysts expect revenue of $557.7 million and earnings of $0.16 per share, both higher than the previous quarter.
DraftKings (DKNG): Shares gained 2% on Thursday before falling 3% in extended trading after Q2 revenue of $1.44 billion and adjusted earnings of $0.09 per share missed expectations. DraftKings maintained its 2026 revenue outlook of $6.5 billion to $6.9 billion.
Iovance Biotherapeutics (IOVA): Shares surged 43% on Thursday after Q2 product revenue jumped 66% to $99.3 million, beating the $87.8 million estimate. Its $0.11-per-share loss was also narrower than expected. Iovance is reviewing its 2026 revenue guidance of $350 million to $370 million.
Doximity (DOCS): Shares skyrocketed 73% in extended trading after first-quarter revenue of $156.6 million exceeded the $151.7 million estimate. The company forecast fiscal 2027 revenue of $671 million to $681 million, slightly above Wall Street’s expectations.
How Global Markets Are Performing Today
The benchmark 10-year U.S. Treasury yield stood at 4.68% late Thursday, while gold traded around $4,246 per ounce in early Asian trading on Friday. Silver rose to around $61.59 per ounce.
Asian markets opened mostly lower on Friday. Stocks in Japan, Australia and Shanghai declined, while South Korea’s Kospi advanced.
Apart from July's payrolls report, Friday’s key catalysts include a NABE fireside chat with Richmond Fed President Thomas Barkin and June consumer credit data.