U.S. stock futures advance as Trump predicts continued market gains despite Iran tensions and oil volatility

  • Stock futures advanced on Thursday as Dow Jones, S&P 500 and Nasdaq 100 rose.
  • President Trump predicted market gains despite Iran war and oil volatility.
  • CME FedWatch prices 60.2% chance of Federal Reserve September rate hike.

U.S. stock futures advanced on Thursday, with the Dow Jones, S&P 500 and Nasdaq 100 rising following Wednesday's higher close. President Donald Trump predicted that the stock market will continue moving higher despite the ongoing war in Iran and oil price volatility, dismissing concerns while noting the market keeps hitting new records every day and adding that it will go up. He also sparked backlash by suggesting the Strait of Hormuz be renamed to TRUMP STRAIT. The 10-year Treasury yield stood at 4.76% and the two-year at 4.35%, with the CME Group's FedWatch tool pricing in a 60.2% likelihood of a Federal Reserve rate hike at the September meeting. Pre-market, the SPDR S&P 500 ETF Trust rose 0.089% to $765.84 while the Invesco QQQ Trust fell 0.14% to $710.22. In focus, Broadcom fell 2.41% after reporting better-than-expected third-quarter results but issuing weak fourth-quarter guidance, Snowflake surged 23.42% on upbeat second-quarter results, Hewlett Packard Enterprise dropped 4.90% despite beating results and raising its adjusted EPS and revenue outlooks, Netskope rose 10.47% as second-quarter revenue grew 29% year-over-year to $220.5 million, and Lululemon Athletica was up 0.50% ahead of earnings. Edward Jones strategist Angelo Kourkafas expects near-term volatility but sees resilience anchored by strong underlying fundamentals, noting historical September weakness should not cause panic and that Friday's employment report and next week's inflation data will play key roles. Oil futures fell 0.34% to around $90.70 per barrel, gold rose 1.17% to $4,439.36 per ounce, and the U.S. dollar index dropped 0.31% to 99.2900. Bitcoin rose 1.10% to $77,923. Asian markets were mixed on Thursday while European markets were also mixed in early trading. New York Fed President John Williams said he remains open to a rate increase at the Federal Open Market Committee's September 15-16 meeting but wants more economic data before deciding, with recent inflation readings encouraging as tariff effects fade.

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