US futures steady as Iran negotiations, earnings and economic data dominate attention: Dow Jones, S&P, Nasdaq, Wall Street

US futures steady as Iran negotiations, earnings and economic data dominate attention: Dow Jones, S&P, Nasdaq, Wall Street

Fiona Craig

Thu, August 6, 2026 at 12:29 PM GMT+3 5 min read

U.S. stock index futures traded with little direction on Thursday as investors monitored diplomatic developments involving Iran, assessed another round of corporate earnings and looked ahead to key labour market data due later this week.

At 01:17 ET (05:17 GMT), Dow Jones futures were up 122 points, or 0.2%, while S&P 500 futures also gained 0.2%. Nasdaq 100 futures slipped 0.1%, reflecting continued weakness in technology shares.

Wall Street ended Wednesday's session mixed. The Dow Jones Industrial Average rose 0.5%, while the S&P 500 lost 0.2% and the Nasdaq Composite declined 0.8%.

Technology stocks remained under pressure after investors reacted to reports of increased artificial intelligence spending plans at SpaceX (NASDAQ:SPCX). Advanced Micro Devices (NASDAQ:AMD) also moved lower after Elon Musk said SpaceX would no longer purchase the company's latest AI processors, despite AMD delivering broadly positive quarterly results.

Economic data released on Wednesday painted a mixed picture. ADP reported weaker-than-expected private-sector job creation in July, although wage growth for workers changing jobs remained strong. Separate figures showed stronger activity in the U.S. services sector, supported by higher new orders and output, while employment softened and inflationary pressures increased. Investors are now focused on Friday's official U.S. employment report.

Iran negotiations remain closely watched

Markets also continued to monitor negotiations between the United States and Iran.

Although President Donald Trump and senior administration officials have indicated that progress is being made, no formal agreement has yet been reached. Trump said discussions with Tehran were progressing well.

Reuters reported that U.S. officials continue to insist any agreement must not give Iran control over access to the Strait of Hormuz, a key shipping route that handled around one-fifth of global oil and liquefied natural gas exports before fighting began earlier this year.

However, Reuters also reported that a proposed arrangement between Iran and Oman would grant Tehran oversight of ships entering the Gulf through the Strait of Hormuz. Iranian Foreign Ministry spokesperson Esmail Baghaei said Iran and Oman have agreed on the geographical coordinates for a shipping corridor through the strategic waterway.

A senior Iranian official also told Reuters that Tehran is seeking transit fees of up to 7% of the value of cargo carried by commercial vessels. Before the conflict, commercial tankers were able to pass through the strait without paying such charges.

Oil prices were last trading around 0.3% lower after fluctuating sharply during Wednesday's session. Energy markets remain highly sensitive to developments in the region because of concerns over inflation and the potential impact on central bank interest rate policy.

Sandisk delivers strong quarter but cautious outlook weighs on shares

Sandisk (NASDAQ:SNDK) reported fourth-quarter results that exceeded analysts' expectations, supported by stronger pricing and robust demand for data centre memory products.

The company forecast first-quarter fiscal 2027 revenue of between $10.3 billion and $10.8 billion, broadly matching the market consensus of $10.62 billion. Adjusted earnings per share are expected to range between $44.00 and $46.00, compared with analyst estimates of $44.21.

Although Sandisk expanded its share buyback programme and delivered another quarter of strong growth, investors focused on guidance that broadly met, rather than exceeded, elevated expectations. Shares slipped around 2% in after-hours trading.

Fourth-quarter revenue reached $8.97 billion, increasing 51% from the previous quarter and 372% compared with a year earlier. GAAP net income rose to $6.90 billion, or $43.97 per diluted share, from a loss of $23 million, or $0.16 per share, in the corresponding period last year.

Block raises full-year profit forecast

Block (NYSE:XYZ) reported quarterly revenue and earnings that exceeded market expectations while also lifting its full-year adjusted profit guidance.

The fintech group also issued current-quarter adjusted profit guidance ahead of analyst forecasts, although its Class A shares edged lower in premarket trading.

The company operates products including the Square point-of-sale platform, the Afterpay buy-now-pay-later service and Cash App, its largest source of revenue. Cash App allows users to make payments, manage personal finances and buy or sell bitcoin.

Founded as Square in 2009 by Twitter co-founder Jack Dorsey, the business changed its corporate name to Block in 2021 to reflect its expansion beyond digital payments into blockchain-related technologies.

Moderna secures FDA approval for mRNA flu vaccine

Moderna (NASDAQ:MRNA) announced that the U.S. Food and Drug Administration has approved mFLUSIVA for adults aged 50 and older, making it the company's first mRNA-based influenza vaccine and its fourth FDA-approved product.

The company expects to begin supplying selected U.S. retailers over the coming weeks ahead of the 2026-2027 respiratory virus season. Globally, mFLUSIVA becomes Moderna's fifth approved product.

The approval follows a unanimous recommendation from the FDA's Vaccines and Related Biological Products Advisory Committee and is supported by Phase 3 trial data involving more than 40,800 participants across 11 countries.

For adults aged 65 and above, the vaccine received accelerated approval based on immune response data from a separate U.S. study involving 2,992 participants. Moderna said additional post-marketing studies will be carried out to confirm clinical benefits in older adults.

Moderna shares traded higher in extended-hours dealing.

SanDisk stock price

Block stock price

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Moderna stock price