The major U.S. index futures are currently pointing to a higher open on Friday, with stocks likely to move back to the upside following the weakness seen in the previous session.
A spike by shares of Intel (INTC) may generate early buying interest, as the semiconductor giant is soaring by more than 25 percent in pre-market trading.
The surge by Intel comes after the chipmaker reported much better than expected first quarter earnings and forecast second quarter revenues above analyst estimates.
Consumer products giant Procter & Gamble (PG) is also seeing notable pre-market strength after reporting fiscal third quarter results that exceeded expectations.
Positive sentiment may also be generated in reaction to a pullback by the price of crude oil, which is giving back ground after skyrocketing over the past few sessions.
Crude oil prices are moving lower after a report from Reuters said Iranian Foreign Minister Seyed Abbas Araghchi will arrive in Pakistan tonight for peace talks with the U.S.
President Donald Trump's announcement of a three-week extension of the ceasefire between Israel and Lebanon is also weighing on crude oil prices.
Following the rally seen during Wednesday's session, stocks moved mostly lower over the course of the trading day on Thursday. The major averages all moved to the downside, with the Nasdaq and the S&P 500 pulling back off record closing highs.
The major averages regained ground after an early afternoon nosedive but remained firmly negative. The Nasdaq slid 219.06 points or 0.9 percent to 24,438.50, the S&P 500 declined 29.50 points or 0.4 percent to 7,108.40 and the Dow fell 179.71 points or 0.4 percent to 49,310.32.
Profit taking contributed to the early weakness on Wall Street following yesterday's rally, which more than offset the pullback seen to start the week.
A steep drop by shares of IBM Corp. (IBM) also weighed on the markets, with the tech giant plunging by 8.3 percent.
The slump by IBM came after the company reported better than expected first quarter earnings but failed to raise its full-year guidance.
Industrial giant Honeywell (HON) was also under pressure after reporting first quarter earnings that exceeded estimates but forecasting weaker than expected second quarter earnings.
On the other hand, shares of Texas Instruments (TXN) soared by 19.4 percent after the chipmaker reported better than expected first quarter results and provided upbeat guidance.
Stocks showed a notable move to the downside in early afternoon trading amid a spike by the price of crude oil. U.S. crude oil futures have given back ground after surging by almost 6 percent but still jumped by more than 3 percent on the day.
Crude oil prices soared after a report from Israel's N12 claimed Iran's parliament speaker Mohammad Bagher Ghalibaf has resigned from the country's negotiating team due to interference from the Revolutionary Guard.
Concerns about a re-escalation of the U.S.-Iran war also weighed on the markets after President Donald Trump said he has ordered the Navy to "shoot and kill any boat" that is putting mines in the waters of the Strait of Hormuz.
Trump also said Iran is "having a very hard time figuring out who their leader is," pointing to infighting between "hardliners" and "moderates."
The president's latest remarks have added to uncertainty about the potential for a second round of U.S.-Iran peace talks, with Trump denying reports he is "anxious" to end war.
Software stocks showed a substantial move to the downside on the day, with the Dow Jones U.S. Software Index plunging by 5 percent after ending the previous session at its best closing level in almost three months.
AI-powered software company ServiceNow (NOW) helped lead the sector lower, plummeting by 17.8 percent despite reporting better than expected first quarter results.
Considerable weakness also emerged among computer hardware stocks, as reflected by the 2.9 percent slump by the NYSE Arca Computer Hardware Index.
Gold, biotechnology and brokerage stocks also came under pressure over the course of the session, while utilities and semiconductor stocks showed strong moves to the upside.
Commodity, Currency Markets
Crude oil futures are sliding $0.96 to $94.89 a barrel after surging $2.89 to $95.85 a barrel on Thursday. Meanwhile, after falling $29 to $4,724 an ounce in the previous session, gold futures are inching up $2 to $4,726 an ounce.
On the currency front, the U.S. dollar is trading at 159.54 yen versus the 159.71 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1708 compared to yesterday's $1.1683.
Asia
Asian stocks turned in a mixed performance on Friday as U.S.-Iran tensions persisted over the control of the Strait of Hormuz.
Brent crude prices remained elevated above $105 a barrel, fueling worries about inflation, interest rates and economic growth.
Chipmaker Intel's strong earnings results and U.S. President Trump's announcement of an extension of the Lebanon-Israel ceasefire by three weeks provided only modest support for markets.
The dollar index was set for its first weekly gain in three, while gold dipped below $4,700 an ounce.
China's Shanghai Composite Index dropped 0.3 percent to 4,079.90, with computing power concept stocks retreating.
Hong Kong's Hang Seng Index edged up by 0.2 percent to 25,978.07, recovering from an early slide as investors hunted for bargains in technology and semiconductor stocks.
Japanese markets rallied to reach a new record high after data showed core inflation in the country slipped below the Bank of Japan's 2 percent target for a second straight month in March due to subsidies and easing food prices.
The yen extended losses despite Finance Minister Satsuki Katayama warning of potential intervention to curb speculative moves. The Bank of Japan is scheduled to meet next week, with no change in interest rates expected.
The Nikkei 225 Index jumped 1 percent to 59,716.18, posting its third consecutive weekly gain. The broader Topix Index finished marginally higher at 3,716.59.
Seoul stocks ended on a flat note, with the Kospi finishing marginally lower at 6,475.63 after hitting a record high in the previous session. The index gained more than 4 percent for the week, driven by strong gains in major chipmaking stocks.
Australian stocks ended slightly lower amid lingering uncertainty surrounding potential peace talks between the United States and Iran.
The benchmark S&P/ASX 200 Index finished marginally lower at 8,786.50, while the broader All Ordinaries Index slipped 0.2 percent to 9,006.40. Mining and gold stocks declined, offsetting gains in the energy sector.
Across the Tasman, New Zealand's benchmark S&P/NZX-50 ended little changed with a negative bias at 12,874.94 after first quarter headline inflation came in 3.1 percent year-on-year in the first quarter, unchanged from the prior reading and holding above the central bank's target range.
Europe
European stocks have declined on Friday amid signs that the U.S. and Iran have made little progress toward de-escalating the Middle East conflict.
The Strait of Hormuz remained effectively closed, keeping oil prices elevated and raising concerns that tensions may persist for longer than expected.
According to a Wall Street Journal report, the U.S. military is said to need up to 6 years to replenish the amount of missiles consumed in the war with Iran.
The French CAC 40 Index is down by 0.4 percent and the U.K.'s FTSE 100 Index is down by 0.3 percent, although the German DAX Index is up by 0.2 percent.
Electrolux has plummeted after the appliance maker unexpectedly slipped to a loss in the first quarter as a result of higher U.S. tariff costs.
British paper and packaging group Mondi has also slumped after reporting a sharp decline in its first-quarter profit.
Drug discovery and development firm Evotec has also declined after its CFO Paul Hitchin stepped down for personal reasons.
Meanwhile, SAP has moved sharply higher after the German business software maker beat first-quarter profit estimates.
Italian energy group Eni has also moved to the upside after raising its 2026 share buyback plan by about 90 percent.
Grocer J Sainsbury has also advanced after launching a share buyback program of up to £300 million.
U.S. Economic News
The University of Michigan is scheduled to release its revised reading on consumer sentiment in the month of April at 10 am ET.
The consumer sentiment index for April is expected to be unrevised from the preliminary reading of 47.6, which marked a record low.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.