Dow Futures fluctuate around the neutral point, as discussions regarding a new Middle East peace initiative and a series of corporate earnings reports capture attention. U.S. President Donald Trump asserts that discussions with Iran are advancing positively, while Iran and Oman have reached an agreement on the coordinates of a shipping route through the Strait of Hormuz. Sandisk projects current-quarter revenue that seems to fall short of elevated Wall Street expectations, whereas Block raises its full-year adjusted profit outlook.

Dow futures were in search of direction on Thursday, as investors monitored developments in the Middle East and analysed a diminishing stream of quarterly corporate earnings. By 01:17, the Dow futures contract had risen by 122 points, or 0.2%, S&P 500 futures had climbed by 15 points, or 0.2%, and Nasdaq 100 futures had dipped by 28 points, or 0.1%. The primary indices on Wall Street concluded the day with a varied performance on Wednesday. The blue-chip index gained 263 points, or 0.5%, while the benchmark index dropped by 13 points, or 0.2%, and the tech-heavy index fell by 222 points, or 0.8%. Dragging down the tech sector, in particular, were shares of SpaceX, as markets seemed to hesitate regarding plans for significant expenditures on artificial intelligence from Elon Musk’s rocket company. Advanced Micro Devices also experienced a decline following Musk’s announcement that SpaceX would cease purchasing advanced processors from the chipmaker, despite the company’s overall financial performance remaining robust. Meanwhile, a report from ADP indicated that U.S. private-sector job creation in July fell short of expectations, although there were significant wage increases for individuals transitioning between roles. Separate data also indicated an increase in new orders and production within the essential American services sector, despite a decline in employment and a rise in inflation. The primary economic occurrence of the week is anticipated on Friday, with the release of the July U.S. jobs report.

Concurrently, expectations for a peace agreement between the U.S. and Iran remained cautious. Despite assertions from President Trump and other officials within his administration this week indicating that an agreement is imminent, a new accord has yet to come to fruition. Trump, however, has indicated that discussions with Iran are progressing positively. U.S. officials have consistently emphasised that any agreement must prevent Iran from exerting control over access to the Strait of Hormuz, a crucial maritime route through which approximately one-fifth of the global oil and liquefied natural gas supply transited prior to the onset of the conflict in late February. Nonetheless, the news agency reported that a proposed arrangement between Iran and Oman, two nations with borders adjacent to the strait, would grant Tehran oversight of the vessels entering the Gulf via the narrow channel. Geographic coordinates for a shipping route through the strait have been established by Iran and Oman, as stated by Iranian Foreign Ministry Spokesperson Esmail Baghaei. A senior Iranian official also informed Reuters that Iran is pursuing passage fees of up to 7% of the value of ship cargoes. The strait was accessible, without charges, to all commercial tanker traffic prior to the conflict. Oil prices were last down by 0.3%, following a volatile session on Wednesday. Energy prices have garnered attention amid concerns regarding a possible surge in inflation and subsequent increases in central bank interest rates.

Sandisk projected first-quarter revenue that fell short of Wall Street expectations, resulting in a decline in shares during premarket U.S. trading on Thursday. The flash memory manufacturer, having significantly profited from the surge in demand for the infrastructure supporting advanced artificial intelligence systems, anticipates fiscal first-quarter 2027 revenue in the range of $10.3 billion to $10.8 billion, in contrast to analysts’ consensus estimate of $10.62 billion. It anticipates adjusted earnings per share in the range of $44.00 to $46.00, compared to the consensus estimate of $44.21. While Sandisk delivered another quarter of outsized growth and expanded its share buyback program, investors seemed to concentrate on guidance that did not significantly surpass elevated expectations. Shares of Sandisk experienced a decline exceeding 9% prior to the commencement of U.S. trading. The stock has experienced an increase exceeding 390% year-to-date. In its fiscal fourth quarter, Sandisk reported revenue of $8.97 billion, reflecting a sequential increase of 51% and a remarkable year-over-year growth of 372%. This growth can be attributed to approximately one-third stemming from increased shipment volumes and two-thirds from enhanced pricing strategies. GAAP net income increased significantly to $6.90 billion, or $43.97 per diluted share, compared to a loss of $23 million, or $0.16 per share, in the previous year.

Shares of Block declined in premarket U.S. trading on Thursday, despite the group raising its full-year adjusted profit outlook, attributed to indications of resilient consumer spending and robust performance in its Cash App business. For the full year 2026, the fintech group now anticipates an adjusted profit of $4.02 per share, an increase from the previous estimate of $3.85. However, analysts flagged, “there is some disappointment” that the guidance was not increased by more. Block also reported a quarterly performance that exceeded both revenue and earnings expectations, while providing adjusted profit guidance for the current quarter that surpassed forecasts. The company is recognised for its offerings, including Square, a point-of-sale platform catering to local sellers, as well as the buy now, pay later service, Afterpay. However, its primary source of revenue is Cash App, a mobile payment and personal finance application for consumers that additionally enables users to buy and sell Bitcoin.

Moderna announced that the U.S. Food and Drug Administration has granted approval for its influenza vaccine, mFLUSIVA, intended for adults aged 50 and older. This development signifies the company’s inaugural mRNA-based flu shot and its fourth product to receive FDA approval. The company indicated that it anticipates commencing the supply of the vaccine to select U.S. retailers in the forthcoming weeks, in advance of the 2026-2027 respiratory virus season. The vaccine marks the fifth product that has received global approval from Moderna. The approval comes after a unanimous recommendation from the FDA’s Vaccines and Related Biological Products Advisory Committee and is grounded in data from a Phase 3 trial that included 40,805 adults aged 50 and older across 11 countries. For individuals aged 65 and older, the vaccine obtained expedited approval predicated on immune response data derived from a distinct U.S. trial that included 2,992 participants. Moderna announced that it will conduct confirmatory post-marketing studies to validate the clinical benefits for the older population.