U.S. equity futures pointed higher in early Wednesday trading while oil prices trimmed earlier losses, as market participants assessed emerging signs that the war in Iran could be moving toward a resolution.
By 06:11 ET (10:11 GMT), the futures market showed gains for the major indexes: the Dow futures contract was up about 220 points, or 0.5%, S&P 500 futures had climbed roughly 31 points, or 0.5%, and Nasdaq 100 futures were higher by about 152 points, or 0.6%.
Premarket movers
- Nike reported quarterly results that beat expectations on both revenue and earnings per share, but the company flagged ongoing weakness in Greater China. Nike also warned that revenue for the current quarter could decline by as much as 4%, and its shares fell on the outlook.
- RH saw its stock drop after the home furnishings retailer issued a fiscal first-quarter revenue forecast that came in below market expectations.
- Walt Disney ticked slightly higher after analysts at Raymond James upgraded the entertainment conglomerate, calling the current price an attractive entry point.
- Zymeworks edged up following the announcement that Kristin Stafford has been appointed as Chief Financial Officer, effective immediately.
- Immunic rose after the biotech company said it had regained compliance with Nasdaq's minimum bid price rule, removing the possibility of delisting tied to that requirement.
- nCino jumped after the banking software provider issued a first-quarter revenue outlook that exceeded expectations and revealed an accelerated $100 million share buyback program.
What to watch
Traders will be watching how headlines around the conflict in Iran evolve and whether energy markets continue to firm or soften, given the role of oil in broader market sentiment. At the same time, investor attention will remain on corporate guidance and earnings signals, as several individual companies moved markedly in premarket trade on fresh outlooks and corporate developments.