US futures stall as tech shares rebound amid oil rise and Iran talks
US stock index futures were largely unchanged, with AI-related equities edging higher while higher oil prices and flat bond yields kept risk appetite muted.
Early trade in US equity futures showed little movement, with the Dow down 0.07%, the S&P 500 off 0.04% and the Nasdaq up 0.06%. Technology stocks led the modest gains, as chip makers Marvell Technology, Micron Technology and Broadcom each rose roughly one percent and Nvidia added 0.7% after a record-size share-buyback authorization. The sector’s lift came from Anthropic’s IPO filing, which targets a valuation exceeding $2 trillion, and from investor focus on OpenAI’s Sam Altman speaking at DevDay.
Oil prices climbed for a second day, and 10-year Treasury yields hovered near their highest level since 2007, keeping risk-averse sentiment in check. President Donald Trump dismissed media claims that the US would relax sanctions on Iran, while analysts noted that a clear breakthrough in the US-Iran conflict remains unlikely soon. Additional market movers included Summit Therapeutics, which jumped after announcing a $2 billion investment from AstraZeneca, and PepsiCo, which slipped following a downgrade by JP Morgan.
Why it matters
The mixed market signals show how AI optimism, energy costs and geopolitical uncertainty together shape investor sentiment.
How this story developed
- Sep 20 Oil prices tick up after Houthi missile and drone strike on Riyadh
- Sep 22 Meta's new Muse AI assistant sparked an 11% jump in its stock, lifting other AI-related shares, while oil prices rose and bond yields nudged higher.
- Sep 24 Iran’s president publicly rejected any surrender to the United States at the UN.
- Sep 28 Asian equity markets opened with restraint on Monday as oil prices surged amid lingering US-Iran tensions, while higher bond yields added pressure.
- Sep 28 Oil prices spiked sharply, pushing bond yields higher and prompting mixed moves in Asian equities.
- Sep 29 Trump turned down Iran’s peace proposal at the United Nations.
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