Dow Futures associated with the primary U.S. stock indices fluctuate around the neutral point, while oil prices sustain levels above $100 per barrel, amid ongoing disruptions to oil supplies via the Strait of Hormuz, despite a tenuous U.S.-Iran ceasefire and President Donald Trump’s declaration of a prolonged cessation of hostilities between Israel and Lebanon. In other developments, there was a surge in after-hours trading prompted by an optimistic forecast from the chip manufacturer.

Dow futures were in search of direction on Friday, as the trading week drew to a close, marked by diminishing hopes for a timely U.S.-Iran peace agreement and ongoing oil supply disruptions. By 03:21, the index had fallen by 58 points, or 0.1%, the other index had risen by 10 points, or 0.1%, and a third index had jumped by 172 points, or 0.6%. The primary indices on Wall Street concluded the trading session on Thursday with declines, as market sentiment was negatively impacted by diminishing hopes for a swift resolution between Washington and Tehran regarding a permanent cessation of hostilities and the reopening of the Strait of Hormuz, a crucial maritime corridor off Iran’s southern coast that has remained largely inaccessible to tanker traffic for several weeks. Traders maintained a positive outlook regarding what has thus far proven to be a robust quarterly earnings season for Corporate America. One of the standout performers in the prior session was a chipmaker, whose shares surged by over 19% following the release of results and guidance that garnered positive reactions from investors. The returns elevated the performance of other semiconductor stocks concurrently. The increasing demand for TI’s analog chips from data centers highlights the sustained momentum of a significant rise in technology sector expenditures on artificial intelligence. Optimism surrounding substantial investments in AI infrastructure has enabled markets to overlook economic challenges stemming from the Middle East, largely mitigating losses triggered by the Iran conflict.

President Donald Trump announced on Thursday that a ceasefire between Israel and Lebanon will be extended for three weeks after discussions with diplomats from both nations. However, the absence of representatives from Hezbollah, the militant group engaged in Lebanon, raises questions regarding the durability of the truce. Hostilities between Israel and Hezbollah were also documented in the hours preceding Trump’s announcement. Earlier this week, Trump announced an indefinite ceasefire between the U.S. and Iran, while upholding an American blockade of Iranian ports. The fragile cessation of hostilities remains enveloped in uncertainty. Tehran has reacted to the U.S. blockade by asserting its control over the Strait of Hormuz, engaging in attacks and the seizure of vessels within this critical passage. The U.S. has taken action by seizing vessels flagged by Iran, and Trump has stated that he has instructed the Navy to “shoot and kill” Iranian boats that attempt to lay mines in the strait. U.S. Defense Secretary Pete Hegseth and Gen. Dan Caine, Chairman of the Joint Chiefs of Staff, are scheduled to convene a conference at 8 a.m. on Friday.

In light of limited signs suggesting an imminent reopening of the strait, oil prices have surged past the $100 per barrel mark, raising concerns about potential inflationary pressures and a deceleration in global economic growth. At 03:57, the global oil benchmark had risen by 1.2% to $106.30 a barrel; meanwhile, another measure rose by 1.0% to $96.77 a barrel. Both contracts continue to trade significantly above pre-war levels, raising concerns about a potential global energy shock that may compel central banks worldwide to contemplate increasing interest rates—an eventuality that could have far-reaching implications for various financial assets. “Clarity regarding the forthcoming phase of the Middle East conflict remains scarce, and it appears that inflationary pressures may be expanding,” analysts noted. International Energy Agency Executive Director Fatih Birol cautioned this week that the extended closure of the Strait of Hormuz represents “the biggest energy security threat in history” and has called on governments to seek alternative energy sources in light of the crisis.

Intel’s shares surged in after-hours trading, increasing by over 21%, following the company’s forecast of a revenue boost driven by demand for AI data centers. Despite being perceived as a passive player in the AI surge, Intel’s CPU architecture has gained traction recently, as numerous AI enterprises seek the requisite computational capabilities for advanced autonomous “agents.” The company has gained from a 10% stake from the Trump administration, in addition to aligning with Tesla and SpaceX as a strategic partner in a project that encompasses a chip-fabrication site in Texas. In light of recent developments, Intel has revised its sales guidance for the current quarter to a range of $13.8 billion to $14.8 billion, significantly exceeding analysts’ forecasts. CEO Lip-Bu Tan remarked that the push to bring AI nearer to end users is “significantly increasing the need for Intel’s CPUs and wafer and advanced packaging offerings.”

On the economic data front, investors will have the opportunity to analyze the final reading of a survey of consumer confidence for April. A preliminary consumer sentiment index from the University of Michigan has declined to a historic low of 47.6 this month, down from 53.3 in March and significantly below analysts’ expectations. The survey indicated a decline across various demographics, including age, income, and political party affiliation, despite the fact that the responses were collected before the ceasefire agreement between the U.S. and Iran. Many consumers attributed “unfavorable changes to the economy” to the Iran conflict, according to Joanne Hsu.