US Stock Index Futures Muted Amid Escalating War Tensions
US stock index futures were muted on Thursday as investors weighed higher oil prices and the escalating war in the Middle East. The conflict has kept markets on edge, with some strong corporate results unable to offset the gloom.
Oil prices have been stuck within a tight range, with Brent crude last up 0.23% after falling earlier in the session. Goldman Sachs analysts noted that increasing market adaptability to the conflict will likely continue to moderate the upside to crude prices.
US Treasury yields eased as a bond market selloff slowed, which has pressured stocks in recent weeks. Benjamin Jones, global head of research at Invesco, said 'I'm confident that the remainder of the year will bring new disruptions, but one disruption I'm less concerned about is higher yields.'
However, some companies failed to meet expectations, with Broadcom falling 2.29% in premarket trading after its fourth-quarter revenue forecast fell short of Wall Street's lofty expectations.