FX.co ★ US Futures Ease from Session Highs

US equity futures pulled back from session highs on Wednesday after President Trump threatened to escalate military action if Iran continues to target vessels in the Strait of Hormuz. Futures tied to the S&P 500, Dow, and Nasdaq 100 were still up about 0.8%. Trump said Iran had requested a ceasefire, but indicated the US would reject such proposals and continue its strikes until regional energy exports are restored.

The tensions kept market volatility elevated, with repeated attacks on tankers and energy infrastructure in Gulf states bolstering demand for benchmark Treasuries. Even so, some pressure on bonds persisted as robust retail sales and solid private payrolls data underscored the US economy’s capacity to withstand an energy shock.

Technology heavyweights advanced as improved risk appetite aligned with renewed optimism around artificial intelligence, following OpenAI’s latest funding round, which drew fresh backing from Nvidia, Amazon, and SoftBank. By contrast, Nike slumped 10% after issuing subdued forward guidance.