Overview
- US stock futures slipped Thursday morning, pulling back from Wednesday’s record closes as investors weighed fresh Middle East risks.
- Brent traded above $103 a barrel and West Texas Intermediate hovered near $94 as traffic through the Strait of Hormuz stayed constrained.
- Iran’s navy said it seized two container ships in the strait, and reporting pointed to a continued US naval blockade on vessels to and from Iranian ports.
- Diplomacy showed new strain as Vice President J.D. Vance suspended travel for the next talks and President Trump said there is no time frame for ending the war.
- Earnings added pressure as Tesla fell on a plan to lift capital spending to about $25 billion this year, ServiceNow dropped about 12% after war-related deal delays and weaker margins, and IBM slid roughly 7% on softer software and consulting sales.