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Stock futures fell on Friday morning as oil prices resumed their rally following a brief move lower.
Futures for the Dow Jones Industrial index dumped 119 points, or 0.3%, to 46,222.
Futures for the S&P 500 index faltered 22 points, or 0.3%, to 6,638.
Futures for the NASDAQ tumbled 114 points, or 0.5%. to 24,466.
Stocks fell on Thursday but closed well off their lows after Netanyahu said Israel was assisting the U.S. “in intel and other means” to open the Strait of Hormuz. He added that Iran had lost the ability to enrich uranium and produce ballistic missiles, noting the conflict may end faster than many fear.
The stock market could face additional volatility on Friday due to the so-called quadruple witching event — the quarterly expiration of stock options, index options, index futures and single-stock futures that occurs four times a year.
As trillions of dollars in derivatives roll off the board, the event tends to lead to heavier trading volumes and sharper intraday swings thanks to investors rebalancing or unwinding positions.
In Hong Kong, the Hang Seng reversed 0.9%. Markets in Japan were closed for holiday.
Oil prices gave back $1.44 to $94.70 U.S. a barrel.
Gold prices brightened $78.70 to $4,684.00 U.S an ounce.
