U.S. stock futures were mixed on Thursday, as the Dow Jones and S&P 500 indices rose and the Nasdaq 100 index declined, following Wednesday’s mixed close.
According to Reuters, a proposed Oman-brokered deal could hand Tehran control over inbound shipping through the crucial Strait of Hormuz, marking a potentially major concession in the five-month conflict.
While crude prices eased with Brent Oil Futures trading around $79.91 per barrel at the last check, Iran reported the shipping agreement was in its final stages; significant sticking points remain over control and cargo fees, with Washington continuing to resist Iranian authority over the waterway.
Meanwhile, the 10-year Treasury bond yielded 4.62%, and the two-year bond was at 4.20%. The CME Group’s FedWatch tool’s projections show markets pricing a 54.9% likelihood of the Federal Reserve hiking the current interest rates during its September meeting.
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were mixed in premarket on Thursday. The SPY was up 0.18% at $771.20, while the QQQ declined by 0.31% to $715.09.
