Traders work at the New York Stock Exchange on May 7, 2026.
NYSE
U.S. stock futures slipped on Thursday night as traders eyed developments between the U.S. and Iran. They also looked ahead to the release of April’s jobs report.
S&P 500 futures and Nasdaq 100 futures were down about 0.1%. Futures tied to the Dow Jones Industrial Average fell 32 points, or less than 0.1%.
Oil prices climbed in extended trading, with West Texas Intermediate crude futures gaining 2%, after the U.S. and Iran exchanged fire in the Strait of Hormuz. Each side claimed the other struck first. U.S. Central Command said that military forces “intercepted unprovoked Iranian attacks and responded with self-defense strikes” as a trio of U.S. Navy destroyers transited the waterway.
In a Truth Social post Thursday night, President Donald Trump said there was “no damage done to the three Destroyers, but great damage done to the Iranian attackers.” He also reportedly said that the ceasefire is still in effect, saying the strikes against Iranian targets were “just a love tap.”
On Thursday, the S&P 500 and Nasdaq Composite retreated from their record highs as investors continued to monitor the latest developments in the Middle East. The broad market index shed 0.38%, while the tech-heavy Nasdaq slipped 0.13%. The Dow lost 313.62 points, or 0.63%.
The moves came after a senior Iranian official said that the country would not allow the U.S. to reopen the Strait of Hormuz passageway with an “unrealistic plan,” The Wall Street Journal reported Thursday, citing Iran’s state-owned Press TV. The official added that Iran would not let the U.S. leave the conflict without paying reparations for the damage it has inflicted.
On Friday morning, investors will look forward to the release of April’s unemployment rate and payrolls data. Dow Jones estimates show that economists are expecting job gains of just 55,000 last month, and they anticipate the U.S. jobless rate will hold steady at 4.3%.
Stocks have been boosted higher in recent sessions by a strong earnings season, with all three major averages expected to end the week higher. Strong tech earnings have put the Nasdaq on pace to climb 2.8% on the week. The S&P 500 is on track for a rise of 1.5%, while the Dow Jones has lagged with a week-to-date gain of just 0.2%. Going forward, PNC Asset Management chief investment strategist Yung-Yu Ma expects this strong earnings momentum to continue.
“It is important to note that the gains are very broad based,” he said on CNBC’s “The Exchange” on Thursday afternoon. “If you look out to Q2, Q3 and Q4, the market and analysts are still expecting about 20% or higher earnings growth on a year-over-year basis in those subsequent quarters. So we’re not seeing the momentum expected to let up. There is dispersion, for sure, but the momentum is going to be quite strong here.”
Toyota Motor, Wendy’s and Brookfield Asset Management are among the stocks reporting earnings before Friday’s opening bell.
—CNBC’s Kevin Breuninger contributed reporting.
Just 2 of the 11 GICS sectors end Thursday higher
On Thursday, just two of the 11 GICS sectors rose to end the session higher.
Both the communication services and information technology sectors rose 0.08% on the day.
On the other hand, materials stocks were the day’s laggards, with the sector falling 1.82%. The energy and industrials sectors followed, with losses of 1.78% and 1.62%.
— Lisa Kailai Han
Stocks making the biggest moves after the bell: Akamai Technologies, Expedia and more
These are the stocks moving the most in extended-hours trading:
- Akamai Technologies — Shares surged 25% after the cybersecurity and cloud computing company said that a leading U.S.-based frontier model provider has committed to $1.8 billion over seven years for its Cloud Infrastructure Services.
- Expedia — Shares shed 8% after the online travel agency called for second-quarter revenue of $4.11 billion to $4.19 billion, compared to the $4.12 anticipated by analysts, per LSEG.
- Lyft — The rideshare app fell 2% after Lyft’s first-quarter earnings came in at 4 cents per share, while analysts surveyed by LSEG had anticipated 6 cents.
- CoreWeave — The cloud infrastructure company slid about 10% as its second-quarter revenue guidance disappointed Wall Street. CoreWeave sees revenue ranging from $2.45 billion to $2.6 billion. The midpoint of $2.53 billion fell short of the $2.69 billion LSEG consensus call.
Read the full list of stocks moving here.
— Lisa Kailai Han
Stock futures open marginally lower after Middle East tensions pick back up
Stock futures opened slightly lower on Thursday evening.
S&P 500 futures shed 0.2%, while Nasdaq 100 futures slipped 0.3%. Dow futures lost 50 points, or 0.1%.
— Lisa Kailai Han
