05.03.202612:40:58UTC+00US Futures Hold Muted Movements

US equity futures were little changed on Thursday, consolidating the prior session’s rebound as investors weighed the potential economic fallout from the war in Iran and its implications for global growth and AI infrastructure spending by leading tech firms. Futures on the three major US indexes hovered around the flatline.

Refined fuel prices and long-term Treasury yields resumed their climb, highlighting renewed inflationary concerns. Even so, equities broadly held their ground, trading near the levels seen before this week’s outbreak of conflict in Iran.

Large-cap tech stocks were subdued in premarket trading, despite a lift from strong performance by their Korean peers. Broadcom rose about 6% after issuing an ambitious outlook for next year, while Veeva rallied as investors took its results as a sign of revived confidence in the software space, which has recently come under pressure amid worries about AI-driven disruption.

In contrast, banks and asset managers edged lower, remaining under scrutiny as markets continue to fret that private credit exposures to the AI sector could deteriorate and lead to rising loan losses.