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Stock Futures Fall on Rising Oil Prices amid U.S.-Iran Crisis
U.S. stock futures fell on Thursday morning due to rising oil prices amid U.S.-Iran tensions. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.03%, 0.05%, and 0.16%, respectively, at 8:35 a.m. EST on March 5.
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U.S. WTI futures were up 2.8%, trading at $76.81 as of writing. Meanwhile, Brent Crude Oil futures rose more than 2% to $83.20.
During Wednesday’s regular trading, the three major averages rebounded sharply as investors’ war-related anxiety eased. The S&P 500 closed up 0.78%, the tech-heavy Nasdaq added 1.29%, and the Dow rose 0.49%. Technology and semiconductor names led the gains, with Nvidia NVDA +1.66% ▲ up 1.7%, Broadcom AVGO +1.18% ▲ gaining 1.2%, and Micron MU +5.55% ▲ , Intel INTC +5.75% ▲ , and AMD AMD +5.82% ▲ each surging over 5%.
Turning to trending stocks, Broadcom AVGO +1.18% ▲ shares were up more than 6% in Thursday’s pre-market trading after the semiconductor company reported strong fiscal first-quarter results and issued a robust outlook. In contrast, Rigetti Computing RGTI +4.72% ▲ stock fell more than 4% after the quantum computing company missed Q4 revenue expectations.
Meanwhile, Trade Desk TTD +0.68% ▲ stock rallied more than 21% after The Information reported that the ad-tech platform was in early talks with OpenAI to boost the AI startup’s ad business.
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