US Stock Futures Rangebound as Oil Prices Steady at $90
US stock futures remained rangebound after the S&P 500 and Dow snapped their three-day losing streak, while oil prices steadied at $90 a barrel.
The S&P 500 closed Wednesday at 0.5% higher, with Dell Technologies leading the gainers, surging 16% to its strongest single-day gain since May 29 after revising its annual revenue guidance up by $25 billion.
Microsoft reported Azure revenue for the first time, while Broadcom delivered a strong third-quarter performance but fell short of expectations in Q4. Uber plans to cut about 3,300 jobs, roughly 10% of its global workforce.
West Texas Intermediate crude stabilized near $90 a barrel as Treasury yields retreated, with Jay Hatfield, CEO of Infrastructure Capital Advisors, noting that the market is range-bound due to oil's influence.