U.S. President Donald Trump told reporters on board Air Force One that Iran “badly” wants to make a deal after America had “just hit [Iran] very hard.”
- U.S. chip stocks rebounded as SK Hynix’s expected Nasdaq debut on July 10 boosted investor sentiment.
- Nasdaq 100, S&P 500 and Dow futures were trading down at the time of writing after benchmark indexes closed higher on Thursday.
- Oil prices were also falling following Trump’s comments.
U.S. stock futures declined in the overnight session late Thursday, reversing gains in the regular session, which were driven by gains in major chipmaking stocks.
Meanwhile, U.S. President Donald Trump told reporters on board Air Force One that Iran “badly” wants to make a deal after America had “just hit [Iran] very hard.”
Nasdaq 100 futures fell 0.36%, S&P 500 futures declined 0.14%, and Dow futures were down 0.04% at 9:107 PM EDT.
Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY), the Invesco QQQ Trust (QQQ), and the SPDR Dow Jones Industrial Average ETF Trust (DIA) were all lower at the time of writing.
The iShares 20+ Year Treasury Bond ETF (TLT) was trading flat amid ‘extremely bearish’ sentiment.
How Did US Markets Fare On Thursday?
All three benchmark indexes closed higher on Thursday, with the Nasdaq leading gains. The tech-heavy index added more than 300 points, closing 1.3% higher.
The S&P 500 climbed 0.81%, while the Dow Jones Industrial Average closed 0.27% up.
| Index | Move | Close |
| Dow Jones Industrial Average | 0.27% | 52,487.41 |
| S&P 500 | 0.81% | 7,543.64 |
| Nasdaq Composite | 1.30% | 26,206.89 |
US Market Drivers
U.S. stock markets gained on Thursday amid a rebound in chip stocks, with SK Hynix’s expected Nasdaq debut on July 10 boosting investor sentiment.
Micron Technology Inc. (MU) closed up 4.51% higher, while Advanced Micro Devices Inc. (AMD) gained more than 5% at close. Other chip stocks, such as Broadcom Inc. (AVGO) and Intel Corp. (INTC), also ended the session in the green.
Related exchange-traded funds also gained, with the VanEck Semiconductor ETF (SMH) up nearly 2.5%, and the iShares Semiconductor ETF (SOXX) rose 3.5%.
Daniel Newman, an analyst and Futurum Group CEO, reportedly told CNBC that investors must weigh the risks of buying at these levels, given historical trends. “This is how memory always acts in any megacycle or supercycle. The problem is, it always crashes hard.”
However, Newman also added that if AI demand stays elevated in the years ahead, memory companies like SK Hynix are a bargain.
Meanwhile, Trump told reporters on Thursday that he is unsure whether the U.S. and Iran are heading back into a full-scale war, while also claiming that Iran is eager to negotiate a deal to stop further escalation.
Speaking aboard Air Force One, Trump said the U.S. had responded forcefully to recent Iranian actions, warning that any future attacks would be met with a much stronger response.
“I say we hit them 20 to 1 – every time they hit us, we’re going to hit them 20, and we did it last night,” he reportedly said. “They did a little something today, but it was really retribution for last night … when they hit, we hit back much harder.”
Meanwhile, the U.S. Central Command confirmed fresh strikes on Iranian military targets on Wednesday, aimed at reducing Iran’s ability to threaten shipping in the Strait of Hormuz.
“U.S. Central Command (CENTCOM) forces completed an additional round of strikes against Iran, July 8, to further degrade Iran’s ability to attack commercial shipping and innocent civilian mariners in the Strait of Hormuz,” it said in a post on X.
“U.S. forces struck approximately 90 Iranian military targets, including air defense systems, coastal surveillance assets, missile and drone storage sites, naval capabilities, and military logistics infrastructure along Iran’s coastline. The latest strikes follow the successful execution of offensive strikes in Iran the night before.”
These updates come after Trump said earlier that he may not be interested in negotiating a deal with Iran any longer. He had also said that the ceasefire between the two countries was “over.”
“It’s highly inflationary and highly uncertain,” Megan Horneman, chief investment officer at Verdence, told CNBC. “It could end tomorrow. It could turn into a bigger event. We don’t know that. So in that event, you just have to be well diversified globally in your equity exposure.”
She also said that this would spill into an ongoing inflation problem for the remainder of this year, adding that it will impact “not just the oil prices.”
Trending Stocks To Watch
Meta Platforms Inc. (META): Shares of the tech company gained nearly 5% at close and continued to climb overnight following the release of Muse Spark 1.1, its newest model for agentic and coding work.
Ondas Inc. (ONDS): The drone company garnered retail attention amid the ongoing geopolitical tensions and growing defense spending.
fuboTV Inc. (FUBO): The live TV streaming company’s shares inched higher after hours following its announcement that former Disney executive Alisa Bowen would take over as its new chief executive officer.
Fermi LLC (FRMI): Shares sank more than 18% in the overnight session after the company announced plans to offer $350 million of convertible senior notes due 2031 to qualified institutional buyers.
Global Market Trends
Crude oil prices declined late Thursday following Trump’s comments. At the time of writing, Brent crude futures expiring in August were down about 0.45%, trading at around $75.96 per barrel. Meanwhile, WTI crude futures expiring in August fell 0.31% to $71.86 per barrel.
Yields on the 10-year Treasury rose to 4.547% at the time of writing, while spot gold prices climbed to around $4,123.01 an ounce.
Asian markets were trading higher at the open on Friday. South Korea’s KOSPI, Japan’s Nikkei 225 and China’s SSE Composite index all rose at the time of writing, while Australian stocks were also trading higher at the open.
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