US Futures Edge Higher as Iran Nuclear Talks Stall

US equity futures pushed higher on Friday morning, but Iran nuclear talks stalled progress, Benzinga reported. All three major index futures advanced, with Nasdaq 100 contracts leading the way up 0.53%. Dow Jones and S&P 500 futures gained 0.28% and 0.31% respectively.

Iran Uranium Stance Clouds Market Sentiment

The mood remained cautious. Iran’s Supreme Leader has reportedly issued a directive barring the transfer of the country’s enriched uranium stockpile abroad. That position directly conflicts with a core US demand in ongoing negotiations. Pakistan is attempting to bridge the gap between the two sides, but key sticking points remain unresolved. Concerns about a potential disruption in the Strait of Hormuz are keeping energy traders on edge, pushing crude prices higher. The US dollar held near a six-week high as a result.

Treasury Yields and Fed Expectations

The 10-year Treasury yield sat at 4.57% Friday morning, while the 2-year note yielded 4.09%. Markets are placing near-certain odds on the Federal Reserve holding rates steady next month. CME Group’s FedWatch tool showed a 97.2% probability of no change at the June meeting. Rate expectations have remained anchored in recent weeks despite mixed economic signals.

Earnings Season Backdrop

Several individual names drew attention in premarket trading. Ross Stores posted stronger-than-expected first-quarter results and lifted its full-year earnings outlook, sending its shares up more than 5%. Zoom Communications also beat estimates and raised guidance for fiscal 2027, jumping nearly 6.5% before the bell. Take-Two Interactive added over 5% after delivering an upbeat fourth quarter alongside solid guidance for the period ahead.

Estee Lauder gained over 10% after the cosmetics giant confirmed it had walked away from merger talks with Spanish fashion and fragrance group Puig. The move removed a long-running deal overhang from the stock. Workday shares were also on investor watchlists ahead of earnings, though the software firm carried weaker trend scores heading into the session.

Thursday’s Session in Review

Thursday’s session closed broadly positive for US equities. Materials, utilities, and consumer discretionary stocks led sector gains. Consumer staples and energy were the lone laggards, finishing in the red as macro concerns weighed on both groups. Jennifer Timmerman, Investment Strategy Analyst at Wells Fargo, noted that recent economic data presents a complicated picture, with April inflation figures adding to an already uncertain macro backdrop.

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