U.S. stock futures edge higher as Iran pressure lifts gasoline futures

U.S. stock futures advanced Friday after Wall Street closed lower, while gasoline and oil prices rallied as traders assessed escalating U.S. pressure on Iran, potential measures against Russian crude, refinery constraints and broader energy-supply risks. Gasoline futures rose to about $3.30 per gallon and WTI crude held near $86 per barrel, with the threat of renewed U.S. sanctions on Iranian oil exports offsetting a larger-than-expected U.S. crude-inventory build. ING analysts said markets were pricing a higher risk premium because spare capacity was limited and any removal of Russian or Iranian barrels could tighten global supply. The Dow Jones rose 0.35%, the S&P 500 0.30%, the Nasdaq 100 0.46% and the Russell 2000 0.54%; Nasdaq 100 futures were separately reported up approximately 0.35% overnight after a five-session losing streak. Treasury yields held near 4.69% for the 10-year note and 4.18% for the two-year note, while CME Group's FedWatch tool indicated a 34.6% probability of a Federal Reserve rate increase at its September meeting. Treasury Secretary Scott Bessent warned of the "toughest sanctions in history" against Iran after President Donald Trump threatened "Economic Warfare" and "tremendous" ramifications for countries assisting Tehran. U.S. gasoline pump prices remained above $4 per gallon in most regions, with some above $5, while the EPA was set to end summer gasoline-blend requirements early. Investors awaited August flash U.S. manufacturing and services PMI data. Ross Stores rose 9.04% in premarket trading after stronger-than-expected results, while Flowers Foods and OSI Systems fell after disappointing results or guidance. Strategy gained 10.57% after Trump's comments on the Clarity Act and Hyperliquid. Bitcoin figures varied by reporting window, ranging from $73,000-$76,000 in one August 20-21 snapshot to $78,459.21, up 9.4% over 24 hours, in another.

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