Futures tied to major U.S. equity indices traded mixed on Friday, hovering near the flatline, while oil prices remained above $100 per barrel as supply disruptions in the Strait of Hormuz continued despite a fragile U.S.-Iran ceasefire. Meanwhile, shares of Intel (NASDAQ:INTC) jumped in after-hours trading following an upbeat outlook from the semiconductor group.
Futures Show Mixed Signals
U.S. stock futures lacked clear direction ahead of the final session of the week, as fading expectations of a near-term U.S.-Iran agreement and ongoing concerns over oil supply weighed on sentiment.
As of 03:21 ET, Dow futures were down 58 points, or 0.1%, S&P 500 futures rose 10 points, or 0.1%, and Nasdaq 100 futures climbed 172 points, or 0.6%.
Wall Street closed lower on Thursday, with investor confidence dented by diminishing hopes that Washington and Tehran would soon reach a lasting deal to end hostilities and reopen the Strait of Hormuz, a key shipping route for oil that has been largely shut to tanker traffic in recent weeks.
Even so, sentiment has been supported by a broadly solid U.S. earnings season. Texas Instruments was among the standout performers, with its shares jumping more than 19% after delivering results and guidance that beat expectations, lifting the wider semiconductor sector.
Strong demand for analog chips used in data centers highlighted the continued surge in spending on artificial intelligence infrastructure, helping markets look past geopolitical tensions and recover much of the ground lost during the Iran conflict.
Trump Extends Israel-Lebanon Ceasefire
U.S. President Donald Trump said on Thursday that a ceasefire between Israel and Lebanon would be extended for three weeks following discussions with officials from both countries.
However, the absence of Hezbollah representatives at the talks has raised concerns about how long the truce may last. Reports of renewed clashes between Israel and Hezbollah also emerged shortly before the announcement.
Earlier in the week, Trump also declared an indefinite ceasefire between the U.S. and Iran, while maintaining restrictions on Iranian ports.
The situation remains uncertain. Iran has responded to U.S. actions by asserting control over the Strait of Hormuz—through which roughly one-fifth of global oil passes—targeting and seizing vessels. The U.S. has also detained Iranian-flagged ships, and Trump said he had instructed the Navy to “shoot and kill” Iranian boats attempting to deploy mines in the strait.
A press briefing by U.S. Defense Secretary Pete Hegseth and General Dan Caine, Chairman of the Joint Chiefs of Staff, is scheduled for 8 a.m. Eastern time on Friday.
Oil Prices Stay Elevated
With little indication that the Strait of Hormuz will reopen in the near term, oil prices have moved back above $100 per barrel, intensifying concerns about inflation and a potential slowdown in global growth.
At 03:57 ET, Brent crude rose 1.2% to $106.30 per barrel, while U.S. West Texas Intermediate crude gained 1.0% to $96.77 per barrel.
Both benchmarks remain well above pre-conflict levels, fuelling worries about a broader energy shock that could prompt central banks to raise interest rates, with knock-on effects across financial markets.
“Clarity over the next phase in the Middle East conflict is in short supply, and it now looks as though inflation pressures may be broadening,” analysts at ING said in a note.
International Energy Agency Executive Director Fatih Birol warned earlier this week that the prolonged disruption in the Strait of Hormuz represents “the biggest energy security threat in history” and urged governments to accelerate efforts to secure alternative energy supplies.
Intel Jumps on AI-Fuelled Outlook
Shares of Intel (NASDAQ:INTC) surged more than 21% in extended trading after the company projected a sharp increase in revenue driven by demand from AI-focused data centers.
Although Intel has often been seen as trailing in the AI race, its processors have recently gained traction as companies seek more computing power for advanced autonomous systems.
The company has also benefited from a 10% stake held by the Trump administration, as well as its role as a strategic partner alongside Tesla and SpaceX in a chip manufacturing project in Texas.
Intel raised its current-quarter revenue forecast to between $13.8 billion and $14.8 billion, comfortably above market expectations. CEO Lip-Bu Tan said efforts to bring AI closer to end users are “significantly increasing the need for Intel’s CPUs and wafer and advanced packaging offerings.”
Consumer Sentiment in Focus
On the economic front, investors are awaiting the final April reading of the University of Michigan’s consumer sentiment index.
A preliminary estimate showed sentiment falling to a record low of 47.6, down from 53.3 in March and well below forecasts.
The survey indicated a broad-based decline in confidence across demographic groups, although responses were collected before the announcement of the U.S.-Iran ceasefire. According to Joanne Hsu, director of the survey, many consumers cited the Iran conflict as driving “unfavorable changes to the economy.”
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