US stock futures rise after 3-day slide as investors watch oil, jobs data, rates and tech earnings
Wall Street Bounces Back as Oil, Jobs Data and Tech Earnings Dominate Thursday Trading
Bharatmorning.com – US equity futures climbed in early Thursday trading, snapping a three-session losing streak that had weighed on sentiment across the major indices. The modest rebound came as traders balanced a tangled mix of geopolitical risk, inflation signals, and a packed calendar of corporate results. Dow Jones futures edged up roughly 0.2%, S&P 500 futures added about 0.1%, and Nasdaq-100 futures gained approximately 0.2%, marking a tentative attempt to stabilize prices after consecutive days of selling.
Middle East Conflict Keeps Oil Above Key Threshold
The dominant macro backdrop remains the renewed confrontation between the United States and Iran. President Donald Trump told reporters on Wednesday that Washington had executed a "very heavy attack" on Iranian targets, while adding that the operation would not take "too long."
"The US had carried out a 'very heavy attack' against Iran, but also said the attack would not take 'too long.'" — President Donald Trump, Wednesday
Brent crude hovered above the $95-per-barrel mark on Thursday, dipping only marginally from prior levels. Sustained prices at that level feed directly into transportation, manufacturing, and household energy bills, complicating the Federal Reserve's ability to ease monetary policy on schedule. For rate-sensitive sectors—homebuilders, leveraged industrials, small-cap growth names—every additional week of elevated borrowing costs deepens margin compression and caps valuation multiples.
Jobs Data Takes Center Stage Ahead of Payrolls Report
With Friday's nonfarm payrolls release looming, Thursday's data slate offered a preview of labor-market conditions. Challenger, Gray & Christmas published its weekly tally of announced corporate layoffs, while the Bureau of Labor Statistics released the count of initial jobless claims. Together, those two prints give traders a near-real-time gauge on whether hiring momentum is intact or beginning to fray.
The stakes extend beyond the headline number. A softening labor market would tilt probability-weighted expectations toward earlier rate cuts, while robust employment figures would reinforce the "higher for longer" narrative already embedded in the yield curve. The 10-year Treasury note traded near 4.8% on Thursday, a level that keeps 30-year mortgage rates, auto-finance spreads, and corporate debt issuance costs elevated. Prolonged exposure to that regime pressures housing-related equities, capital-intensive industrials, and smaller companies reliant on floating-rate credit lines.
Manufacturing PMI: Growth Intact, But Cost Pressures Building
Two composite indicators confirmed that US factory output continued expanding in the latest reading. The S&P Global US Manufacturing PMI registered at 53.9, while the ISM Manufacturing PMI came in at 54.6—both comfortably above the 50 threshold that separates expansion from contraction.
Yet the sub-indices told a more nuanced story. New-order momentum was decelerating, and input-cost components were climbing, suggesting that tariff-related price pass-through and energy-driven expense increases were beginning to erode the margin cushion that had protected manufacturers through the first half of the year. If that cost trajectory persists, it could constrain the Fed's room to cut rates even if growth slows.
Tech Earnings: AI Demand Under the Microscope
Quarterly results from Broadcom and Snowflake drew particular attention as bellwethers for sustained enterprise spending on artificial-intelligence infrastructure and cloud data platforms. Traders parsed guidance language and revenue mix for any signal that hyperscaler capex cycles or enterprise AI adoption might be decelerating.
Other notable Thursday reporters included Lululemon Athletica, DocuSign, and Campbell's Company, spanning consumer discretionary, enterprise software, and packaged foods.
Individual Stock Moves Diverge Sharply
Dell Technologies surged 15.81% after posting stronger-than-expected earnings, lifting full-year guidance, and collecting a wave of analyst price-target upgrades. The pop reflected both the beat-and-raise dynamic and renewed confidence in the company's AI-optimized server and networking pipeline.
AST SpaceMobile jumped 11.83% following the initiation of fresh sell-side coverage that assigned a bullish rating and highlighted the satellite-connectivity play's long-duration growth optionality. Reddit shares climbed 9.31%, extending a multi-week run driven by advertising-monetization progress and user-engagement metrics.
On the losing side, Credo Technology plunged 20.04% despite reporting solid first-quarter revenue and guidance above consensus. Several brokerages trimmed price targets on valuation grounds, and the multiple compression overwhelmed the fundamental beat. MongoDB fell 13.54% as investors focused on decelerating growth in its Atlas cloud database segment and a softer forward outlook, even though the company still cleared the top-line estimate.
What to Watch Next
The coming days will test whether Thursday's modest futures gain marks a genuine inflection or merely a pause within a broader correction. Friday's payrolls print, any further escalation in the US–Iran confrontation, and the trickle of remaining mega-cap tech results will collectively determine whether the 10-year yield can break below the 4.8% ceiling that has capped equity risk appetite. Until those variables resolve, positioning across rates, energy, and growth equities is likely to remain volatile.
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