Oil Prices Retreat, US Stock Futures Edge Higher on Friday

US stock futures rose modestly on Friday, July 24, as crude oil prices retreated from recent highs. The S&P 500 and Nasdaq-100 futures added 0.2% and 0.1%, respectively, while the Dow Jones Industrial Average futures led gains with a 222-point increase.

The rally was partly driven by Intel's 4% jump in pre-market trading after its second-quarter results. However, investors remained cautious due to concerns over escalating tensions in the Middle East and renewed worries about artificial intelligence investments.

Brent crude futures fell more than 3% to $96.40 a barrel, while WTI crude futures slipped 3% to $88.75. Despite the decline, both benchmarks remain on track for their third consecutive weekly gain.