Stock market today: Dow, S&P 500, Nasdaq futures rise as investors shrug off Middle East tensions

US stock futures rose after three days of declines as investors took stock of Middle East tensions and earnings from tech companies like Broadcom (AVGO) and Snowflake (SNOW).

Futures on the Dow Jones Industrial Average (YM=F) rose 0.2%, while those on the S&P 500 (ES=F) were up 0.1%. Contracts for the Nasdaq-100 (NQ=F) edged higher by 0.2% after stocks snapped their losing streak.

Stocks regrouped as oil prices edged lower, though Brent (BZ=F) crude oil futures remained above $95 per barrel. On Wednesday, President Trump said the US carried out a “very heavy attack” against Iran but also stated that the attack wouldn’t take “too long.”

While the reinflamed war in the Middle East has kept the spotlight on inflation, more attention is turning to the labor market, as a lineup of economic data releases sets the stage for Friday’s jobs report.

On Thursday morning, outplacement firm Challenger, Gray & Christmas will provide a look at layoff announcements, which will be coupled with Bureau of Labor Statistics’ data on unemployment benefit applications.

On the earnings front, Lululemon Athletica (LULU), DocuSign (DOCU), and the Campbell’s Company (CPB) are among the notable names reporting quarterly results.

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Oil holds three-day gain as Trump says Iran strikes to be brief
Bloomberg reports:
Oil steadied after a three-day rally as President Donald Trump said renewed attacks on Iran would be short-lived while reiterating his claim that the US controls the Strait of Hormuz.
West Texas Intermediate traded near $91 a barrel after surging 9% over the past three sessions. Brent settled below $96 on Wednesday. Asked how long the US bombing campaign could continue, Trump said “I don’t think too long,” although the president added that “we’re prepared to do another one.”
The renewed US strikes followed weeks of relative calm, with Iran retaliating by firing drones and missiles on American bases across the Middle East, in line with a pattern used throughout the six-month war. While some oil exports had been exiting the Persian Gulf on tankers with their transponders switched off, the latest hostilities raised the prospect of deeper disruptions.
“The latest escalation should keep support under the market, however, keep in mind both the US and Iran are looking for off-ramps here,” said Dennis Kissler, senior vice president for trading at BOK Financial Securities Inc. “More peace talks could deflate prices quickly.”
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