US Futures Extend Records

US equity futures were higher on Friday, extending their rally since the start of the month to new records amid hopes that a resolution to the war with Iran may be approaching. Contracts for the S&P 500, the Dow, and the Nasdaq 100 were up to 0.4% higher. President Trump reiterated that the conflict may end soon as Tehran seemingly agreed so key concessions for the build of a ceasefire agreement. The President also announced a ceasefire between Israel and Lebanon. Crude oil and product prices fell, lowering bond yields and improving the macroeconomic outlook to support equities and speculative AI companies. Oracle and Microsoft rose over 1% pre-market, while Nvidia, Tesla, and Meta were in the green. In turn, Netflix fell over 10% after its Q2 guidance fell short of expectations. Truist Financial was also lower after posting its earnings.