
U.S. stock futures turned lower after early gains as investors waited for the June U.S. jobs report, a key release that could shape expectations for the Federal Reserve’s next policy move. Dow futures slipped 35 points, while S&P 500 and Nasdaq 100 futures fell 0.08% and 0.3%, respectively.
On Wednesday, U.S. stocks ended mixed as a sharp decline in semiconductor shares offset earlier gains. Micron Technology and Sandisk both plunged more than 10%. Asian markets were mostly weaker, led by South Korea, where the Kospi fell nearly 8% as Samsung and SK Hynix suffered heavy losses. Japan’s Nikkei also declined, while Hong Kong outperformed with modest gains. Investors are now focused on the June Nonfarm Payrolls report, with economists expecting the U.S. economy to have added 115,000 jobs, a release that could significantly influence Fed rate expectations.
Oil prices extended their decline, with Brent crude falling 1.4% to around $70.50 per barrel and WTI dropping 1.5% to $67.50, as easing geopolitical concerns reduced the risk premium in oil markets. Prices came under pressure after President Donald Trump said indirect U.S.-Iran negotiations in Qatar were progressing well, raising hopes for improved diplomatic relations.
Market sentiment was also supported by signs that shipping through the Strait of Hormuz is gradually recovering, suggesting confidence that oil exports from the Persian Gulf will continue to normalize. Brent crude is now on track for its fourth consecutive weekly loss, reflecting fading geopolitical fears and expectations of stable regional oil supplies.
Weak U.S. data, including lower-than-expected ADP private payrolls and a softer ISM Manufacturing PMI, increased demand for the precious metal ahead of Thursday’s Nonfarm Payrolls (NFP) report.
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