Market Overview
US stock index futures slipped modestly on Thursday morning ahead of the Juneteenth holiday, with S&P 500 futures down 0.2% to 7,553.0 points, Nasdaq 100 futures down 0.3% to 30,622.5 points, and Dow Jones futures down 0.1% to 51,934.0 points.
Equity Market Reaction
Wall Street indices rebounded sharply after news of a U.S.–Iran memorandum of understanding. The S&P 500 rose 1.1%, the Nasdaq Composite surged 1.9%, and the Dow Jones Industrial Average gained 0.1%.
Semiconductor Sector
Intel Corporation shares jumped more than 10% following President Donald Trump's statement that Apple would cooperate with Intel on U.S. chip development. The surge lifted the Philadelphia Semiconductor Index 6.4% to a record high.
Apple Update
Apple Inc. stock edged higher after CEO Tim Cook indicated the company may need to raise device prices because of rising memory costs.
Geopolitical Development
President Donald Trump and Iranian President Masoud Pezeshkian remotely signed a memorandum of understanding ending hostilities, reopening the Strait of Hormuz, and initiating a 60‑day dialogue on Iran’s nuclear programme, with Tehran committing not to develop nuclear weapons. The prospect of uninterrupted oil flows contributed to a decline in oil prices, easing concerns about energy‑driven inflation.
Outlook
The modest dip in futures reflects muted trading ahead of the holiday, while the equity rally underscores market optimism from the geopolitical breakthrough and strong semiconductor earnings.