U.S. stock futures dipped Thursday, giving back some of the sharp gains from the previous session, as traders continue to monitor the Middle East after the U.S. and Iran agreed to a two-week ceasefire.
Futures for the Dow Jones Industrials docked 189 points, or 0.4%, to 47,955.
Futures for the S&P 500 retreated 20 points, or 0.3%, to 6,803.75
Futures for the NASDAQ fell 60.75 points, or 0.2%. to 25,013.
During Wednesday’s session, the much-broader climbed 2.5%, and the NASDAQ popped 2.8%. The Dow surged more than 1,300 points, or 2.9%, for its best day since April 2025 — back when Trump softened his stance on some of his lofty initial tariffs.
On Tuesday night, Trump agreed to pause attacks on Iran. The Middle Eastern conflict has been going on for five weeks and has resulted in the closure of the crucial Strait of Hormuz.
The “double-sided” ceasefire, however, was contingent on Iran agreeing to reopening the strait. Tehran agreed to reopen the waterway for the next two weeks as long as all attacks are halted, according to a statement from Iran’s Foreign Minister. Media reports said that Israel had also agreed to the ceasefire.
Shares in Datadog rose 2.3% following an upgrade to buy from neutral at Guggenheim. The software company said it believes Datadog is the primarily beneficiary of artificial intelligence-driven growth in data volumes and information technology complexity.
Constellation Brands slipped less than 1% after it withdrew its 2028 guidance due to uncertainty and reported “subdued” demand. Its full-year earnings guidance fell short of expectations, while its fourth-quarter results came in above the Street’s estimates.
In Japan, the Nikkei 225 gave back 0.7% Thursday, while in Hong Kong, Hang Seng inched back 0.5%
Oil prices gushed $4.83 to $99.24 U.S. a barrel.
Gold prices sank $2.70 to $4,774.50 U.S an ounce.
