Futures Edge Higher Amid Oil Retreat, Intel Soars
US stock futures edged higher on Friday, July 24, as crude oil prices retreated from recent highs. Intel shares surged 4% in pre-market trading after its second-quarter results, boosting sentiment following Thursday's sell-off.
The Dow Jones Industrial Average futures led the gains, climbing 222 points or 0.4%, while S&P 500 and Nasdaq-100 futures rose 0.2% and 0.1%, respectively. Despite these modest gains, major indices remained on track for their first back-to-back weekly decline since the early stages of the Middle East conflict.
Risk appetite remained subdued due to concerns over escalating tensions in the region and whether massive investments in artificial intelligence will generate adequate returns. Heavyweight technology stocks Tesla and Alphabet plunged 14.5% and 7%, respectively, after investor sentiment weakened over their sharply higher capital expenditure plans.