U.S. stock futures were largely flat on Friday, as investors remained cautious ahead of potential U.S.-Iran negotiations over the weekend. Optimism around a longer-term de-escalation was supported by a ceasefire between Israel and Lebanon, while U.S. President Donald Trump suggested the conflict with Iran could be nearing its end. Meanwhile, Netflix (NASDAQ:NFLX) came under pressure following leadership updates and a weaker outlook.
Futures Hover Around Flat
Futures on major U.S. indices traded close to unchanged levels as markets awaited clarity on possible renewed diplomatic talks between Washington and Tehran.
At 03:17 ET, Dow futures were up 124 points, or 0.3%, S&P 500 futures edged higher by 6 points, or 0.1%, while Nasdaq 100 futures slipped 14 points, or 0.1%.
In the previous session, both the S&P 500 and Nasdaq Composite reached record highs, extending a rally that has lasted all week. Gains followed Trump’s announcement of a pause in hostilities between Israel and Lebanon, alongside signals that talks with Iran could resume before the current ceasefire expires later this month.
With tensions showing signs of easing, investors turned their attention to technology stocks, which have rebounded after an early-2026 pullback tied to concerns about disruption from emerging artificial intelligence tools. Chip-related names such as Sandisk, Intel, and Micron Technology have led recent gains.
At the same time, early earnings reports have been broadly encouraging. Executives at major Wall Street banks described the U.S. economy as resilient despite the energy shock linked to the Iran conflict, while industrial firms like J.B. Hunt posted profits even as fuel costs climbed sharply.
Trump Points to Potential Weekend Talks with Iran
Trump indicated that discussions with Iran could take place over the weekend and signaled a willingness to extend the current ceasefire if negotiations show progress.
A ceasefire between Israel and Lebanon that took effect Thursday could remove a major sticking point in broader talks. However, Israel has continued targeting Iran-backed Hezbollah forces in Lebanon despite the wider truce.
Officials from both Israel and Lebanon confirmed the agreement, though Hezbollah has not formally endorsed it, saying it would act based on “how developments unfold.”
Trump reiterated his view that the conflict, which began in late February, is likely to conclude soon.
“Generally I’m sympathetic to the view that a resolution is more likely than not over the coming weeks even if the path is unlikely to be a straight line,” said Jim Reid, Global Head of Macro and Thematic Research at Deutsche Bank.
Oil Prices Ease Below $100
Crude oil remained below $100 per barrel as markets tracked developments in the Middle East and the prospects for a durable peace.
Following the outbreak of the conflict, oil prices briefly surged to around $120 per barrel, compared with roughly $70 beforehand. Much of the rise has been linked to disruptions in the Strait of Hormuz, a key shipping route off Iran’s southern coast that handles about one-fifth of global oil flows.
Analysts at ING estimate that around 13 million barrels per day have been affected by the disruption.
The spike in prices has raised concerns about global inflation, with potential knock-on effects for central bank policy, currency markets, and gold. Both the International Energy Agency and OPEC have warned of softer demand in the months ahead, while limited shipping through the strait and ongoing U.S. restrictions on Iranian ports may continue to constrain supply.
“Control of the Strait remains the main flashpoint,” analysts at OCBC said, adding that negotiations between the U.S. and Iran could take up to six months.
Netflix Falls as Hastings Plans Board Exit
Shares of Netflix (NASDAQ:NFLX) declined in premarket U.S. trading and early European dealings after the company issued weaker-than-expected revenue projections and announced that Chairman Reed Hastings will not seek re-election.
The company maintained its full-year guidance but noted that second-quarter operating margins would be lower than in the same period last year.
Netflix said that “growth in content amortization will be first-half weighted due to the timing of title launches,” adding that it expects the second quarter to “have the highest year-over-year content amortization growth rate in 2026, before decelerating to mid-to-high single digit growth in the second half of the year.”
In a separate statement, Netflix confirmed that Hastings—who co-founded the company nearly three decades ago as a DVD-by-mail service and oversaw its evolution into a global streaming leader—will step down from the board after his term ends in June.
Apple iPhone Shipments Jump in China
Apple’s (NASDAQ:AAPL) iPhone shipments in China rose 20% in the first quarter, marking the strongest growth among major vendors, even as the broader market contracted due to rising memory chip costs, according to Counterpoint Research.
The U.S. tech giant moved into second place during the quarter, supported by strong demand for the iPhone 17 lineup, promotional pricing, and government subsidies. It also recorded the fastest growth among the top six brands.
Counterpoint said Apple appears well positioned to navigate the global memory shortage, citing its premium product range and supply chain management. “In the near-to-medium term, it is more likely to absorb rising costs internally and expand its market share,” the firm said.
Overall smartphone shipments in China fell 4% in the January-to-March period, weighed down by supply disruptions and higher component costs.
“Rising component costs are already driving up retail prices, affecting both legacy models and the launch prices of new devices. This trend is expected to keep the Chinese smartphone market under significant pressure through the second quarter,” said Ivan Lam.
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