Dow, S&P 500, Nasdaq Futures Slide as Iran Truce Prospects Fade

US stock futures pulled back on Thursday as conflicting messages from the US and Iran fueled mounting uncertainty about prospects for talks to end the Middle East conflict, Rian Howlett and Karen Friar reported for Yahoo Finance.

Fears of a US recession are building as the oil rally threatens further disruption and higher prices for already strained consumers. (Photo: New York Stock Exchange Facebook)

S&P 500 futures fell 0.8%, while Dow Jones Industrial Average futures dropped 0.7%. Contracts on the tech-heavy Nasdaq 100 moved nearly 1% lower, following Wednesday’s rebound on Wall Street.

Markets continue to be driven by the US-Israeli war with Iran, as Tehran and Tel Aviv launched fresh strikes on Thursday amid growing warnings about the economic cost of the conflict.

With two days left in the US pause on strikes targeting Iranian power plants, both sides remain at odds over a potential ceasefire. Brent crude futures climbed above $107 as mixed signals dampened earlier hopes for an imminent easing of hostilities. West Texas Intermediate crude rose above $94.

Fears of a US recession are building as the oil rally threatens further disruption and higher prices for already strained consumers.

A reading on weekly initial jobless claims due Thursday morning will be closely watched as markets assess how much weight the Federal Reserve will give the oil spike in its policy deliberations.