US pre-open: Futures mixed as S&P and Nasdaq eye third weekly gain

(Sharecast News) - Wall Street futures were mixed ahead of the opening bell on Friday holding near record highs as both the S&P 500 and Nasdaq looked set to notch a third straight weekly gain. As of 1230 BST, Dow Jones futures were down 0.17%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.05% and 0.18% firmer, respectively.

The Dow closed 69.72 points higher on Thursday, erasing losses recorded in the prior session.

Oil prices were in focus early on Friday as traders weighed renewed US threats against Iran and the possibility of a prolonged naval blockade against signs of softer global demand. Brent crude was up 1.5% at $88.38 a barrel, while West Texas Intermediate was 1.81% higher at $82.72 a barrel.

US Treasury Secretary Scott Bessent said Washington would apply economic measures "that have never been seen on Iran", while Defence Secretary Pete Hegseth told reporters late on Thursday that the US Navy could maintain its blockade of the Straight of Hormuz "indefinitely", rotating ships in and out as needed.

On the macro front, July retail sales figures will be released at 1330 BST, while June business invories numbers and a preliminary reading of the University of Michigan's August consumer sentiment index will follow at 1500 BST.

No major corporate earnings were slated for release on Friday.





Reporting by Iain Gilbert at Sharecast.com