28.05.202612:50:23UTC+00US Futures Hold Pullback

US equity futures slipped on Thursday as mounting tensions between Iran and the US pushed energy prices higher. Futures tied to the S&P 500 and Dow edged below record levels, while Nasdaq 100 contracts fell 0.4%.

The US carried out strikes on Iranian targets near the Persian Gulf overnight, deepening doubts about a potential agreement after the White House dismissed Tehran’s claim that a peace deal had been reached to restore trade flows through the Strait of Hormuz.

Technology shares led declines for a second straight session as investors questioned how long the sector’s robust AI-related guidance can be sustained. Nvidia and Tesla were both down more than 1% in premarket trading.

More cyclical and traditional sectors also came under pressure. Hawkish remarks from FOMC officials pushed long-term Treasury yields higher, a move reinforced by PCE price inflation climbing to a three-year high, while initial jobless claims remained solid.

In single-stock moves, Snowflake jumped 40% in premarket trading after issuing a strong outlook, whereas Salesforce fell 2% following its earnings release.