Despite hopes of a possible agreement, Iran and the U.S. are engaged in new 'defensive' strikes. Early cues from the U.S. Futures Index suggest that Wall Street might open lower.
Oil prices rebounded in the Asian trading sesssion. Brent crude futures for August delivery were up 2.2 percent at $94.29 a barrel.
Gold prices were sharply lower. Spot gold tumbled 1.4 percent to $4,395.53 an ounce while U.S. gold futures for August delivery were down 1.3 percent at $4,424.75.
The dollar firmed to a one-week high.
As of 7.55 am ET, the Dow futures were down 92.00 points, the S&P 500 futures were declining 18.25 points and the Nasdaq 100 futures were falling 122.50 points.
The U.S. major averages ended Wednesday in positive territory. The Dow climbed 182.60 points or 0.4 percent to 60,644.28, the Nasdaq inched up 18.55 points or 0.1 percent to 26,674.73 and the S&P 500 crept up 1.24 points or less than a tenth of a percent to 7,520.36.
On the economic front, the Durable Goods Orders for April will be issued at 8.30 am ET. The consensus for new orders is 2.8 percent, while it was up 0.8 percent in the prior month.
The Gross Domestic Product or GDP for the first quarter is scheduled at 8.30 am ET. The consensus for an increase of 2.1 percent, while it was up 2.0 percent in the prior quarter.
The Jobless Claims for the week will be released at 8.30 am ET. The consensus is 213K while it was up 209K in the prior week.
The personal Income and Outlays for April is scheduled at 8.30 am ET. The consensus is for an increase of 0.4 percent, while it was up 0.6 percent in the prior month.
The Corporate Profits for the first quarter is scheduled at 8.30 am ET. In the prior quarter, the year profits were up 5.7 percent.
New Home Sales for April will be issued at 10.00 am ET. The consensus is 662K, while it was up 682K in the prior month.
The Energy Information Administration or EIA's Natural Gas Report for the week will be published at 10.30 am ET. In the prior week, the gas stock was 101 bcf. EIA's petroleum status report is scheduled at 12.00 pm ET. In the prior week, the Crude Oil Inventories were down 7.9 million barrels and the gasoline inventories were down 1.5 million barrels.
Seven-year Treasury Note auction will be held at 1.00 pm ET.
The Fed Balance Sheet for the week will be revealed at 4.30 pm ET. In the prior week, the Level was at $6.714 trillion.
Asian stocks fell on Thursday. China's Shanghai Composite Index edged up by 0.1 percent to 4,098.64. Hong Kong's Hang Seng Index tumbled 1.3 percent to 25,006.16.
Japanese markets declined. The Nikkei 225 Index fell 0.5 percent to 64,693.12 while the broader Topix Index settled 0.4 percent lower at 3,902.01.
Australian markets fell sharply. The benchmark S&P/ASX 200 Index slumped 1.4 percent to 8,592.90, while the broader All Ordinaries Index ended 1.4 percent lower at 8,819.60.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.