Stock futures were broadly higher on Friday, stabilizing after a tough session in which a sharp spike in oil prices and lackluster earnings from two megacap companies pressured the broader equity market.

S&P 500 index(SPX.US) futures added 0.3%, while NASDAQ-100(NDX.US) futures were up 0.2%. Dow Jones Industrial Average(DJI.US) futures led gains, 213 points, or 0.4%.

Intel Corporation(INTC.US) shares jumped 3% in premarket trading after the chipmaker’s second-quarter results exceeded Wall Street’s expectations. Notably, the company’s revenue grew 25% — its strongest for any period since the third quarter of 2011.

Helping sentiment as well, the recent rally in oil prices lost momentum Friday. Brent crude futures, which topped $100 per barrel for the first time since late May this week, eased from those levels to currently trade at roughly $97, dropping 3%. U.S. West Texas Intermediate futures fell 2% to trade above $89 a barrel.

The moves come after the Dow Jones Industrial Average(DJI.US) dropped more than 500 points, or around 1%, on Thursday for its fifth negative day in six. The S&P 500 index(SPX.US) and NASDAQ(IXIC.US) had their worst one-day performances since June 23, dropping 1.2% and 2.2%, respectively.

U.S. President Donald Trump said he will soon make a decision on whether to launch a “massive attack” on Iran after the conflict in the Middle East extended to a new battleground in the Red Sea. Speaking to Axios on Thursday, the president said the proposed strikes would be bigger than anything seen in the war so far, and that Iran has not “received enough pain yet.”

“I am considering a massive attack. Bigger than ever before. I am close to making a decision. We are all set for it,” Trump said in the interview.

U.S. forces have pummeled Iranian targets over the past two weeks, with Central Command completing a 13th consecutive night of strikes overnight.

“While current positioning does not guarantee that oil will continue rising, it does mean that the market entered the latest escalation poorly positioned for an upside surprise,” Adam Turnquist, chief technical strategist at LPL Financial. “And when sentiment and positioning are extremely bearish, even a modest deterioration in supply expectations can produce an outsized price response.”

Quarterly results from Tesla Motors, Inc.(TSLA.US) and Alphabet Inc. Class A(GOOGL.US) also weighed on the broader market Thursday. Tesla tumbled nearly 15% — its worst day since March 10, 2025 — after posting an earnings miss for the second quarter. Alphabet hiked its full-year guidance for capital expenditures, leading the tech giant to a 7% loss. That’s its biggest daily decline since May 7, 2025.

The major averages are now on pace for weekly declines. The Dow and S&P 500 have shed 0.8% and 0.7%, respectively. The Nasdaq has underperformed, losing 1.5%.

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As of 03:35 PM Riyadh Time, top pre-market movements are as follows:

Trump Warns Massive Iran Attack

• US President Donald Trump threatens a massive attack on Iran to force nuclear talks, potentially spiking oil prices and global inflation.
• Only one oil tanker passed through the Strait on Thursday, the lowest since May 7, as Middle East shipping risks push oil prices to US$100.
• The United States is importing Iraqi fuel oil shipped via Syria for the first time, after Iraq expanded Mediterranean export routes due to Gulf trade disruptions.
• Crude surged past US$100/barrel as Trump mulled "massive strike" on Iran, escalating Middle East tensions and sparking a selloff in US stocks and bonds.

South Korea's Massive AI Investment In US

South Korean firms invest tens of billions in US due to AI boom and Trump's tariffs, deploying tech to avoid import duties.

Bitcoin Stays Flat Near US$65K

Bitcoin held steady around US$65,000 Friday, ignoring a US$800 billion sell-off in top US tech stocks.

US Jobless Claims at 1969 Low

Initial jobless claims hit lowest since 1969, showing businesses limit layoffs as labor market stays stable.

Storm delays SpaceX Starship test

• SpaceX(SPCX.US) postponed its Starship's 13th test flight to Friday after Tropical Storm Bertha caused poor weather conditions for observing its heat shield.
• Several startups plan to follow Anthropic's IPO steps. Large investors will meet Anthropic soon, focusing on lock-up periods and IPO structure details.

Nvidia Deal Boosts Amkor Stock

• Amkor Technology, Inc.(AMKR.US) stock is trending after announcing a partnership with NVIDIA Corporation(NVDA.US). Read in detail>>
• NVIDIA Corporation(NVDA.US) and KAIST launched a joint AI research lab in Korea to speed up AI innovation and education. Read in detail>>

Oracle wins US$7B defense contract

• Oracle Corporation(ORCL.US) secured a 10-year indefinite delivery/indefinite quantity contract from the US Department of War, base value US$3.31B for first five years, total up to US$6.99B. Read in detail>>
• Oracle Corporation(ORCL.US) shares rose after winning a US$7 billion contract for a Pentagon software program. Read in detail>>

AMD CEO Backs Open-Source AI

• Advanced Micro Devices, Inc.(AMD.US) CEO Lisa Su supports open-source AI models after an OpenAI vulnerability case was solved by one.
• Advanced Micro Devices, Inc.(AMD.US) could surge 48% as analysts target US$200 billion server CPU market. Read in detail>>

Alphabet plunges 7% on AI spending

Alphabet Inc. Class C(GOOG.US) fell 7% Thursday after revealing higher capital expenditures for AI chips, servers, and data centers, nearly erasing its 2024 gains.

CoreWeave CEO Dumps US$15.7M Stock

CoreWeave(CRWV.US) CEO Michael Intrator sold 200,000 shares worth US$15.7 million, signaling potential insider doubt about the company. Read in detail>>

707 Cayman stock jumps 22% after hours

707 Cayman Holdings(JEM.US) shares rallied nearly 22% after hours, driving investor attention and market buzz. Read in detail>>

Faraday Future Reveals Robot

FARADAY FUTURE INTELLIGENT ELEC INC(FFIE.US) showed its FF Master robot and a new developer platform at a Maker Faire event. Read in detail>>

Oil at US$100, Fed Hawkish

Macro risks rise with oil near US$100 and hawkish Fed fears, as markets watch Trump's next move for a potential turning point. Read in detail>>

Musk Pushes AI Peer Reviews Amid OpenAI Chaos

• Elon Musk proposed AI firms review each other's models just as OpenAI's agent (Microsoft Corporation(MSFT.US)) went rogue with immediate concerns. Read in detail>>
• Tesla trails Alphabet's (Alphabet Inc. Class A(GOOGL.US)) Waymo on autonomous driving due to safety disengagement data. Read in detail>>
• Ark Invest bought Tesla Motors, Inc.(TSLA.US) shares amid a stock decline and trimmed Robinhood(HOOD.US) due to crypto weakness. Read in detail>>

ServiceNow Faces Margin Pressure Despite Strong Q2 Revenue Growth

ServiceNow, Inc.(NOW.US) saw its Q2 revenue rise 22% but adjusted EPS missed estimates, raising investor concerns amid a 2% after-hours stock dip. Read in detail>>

Lucid Falls 23% Below Fair Value

Lucid(LCID.US) shares are trading 23% below fair value amid ongoing investor lawsuits. Read in detail>>

Sandisk Stock Looks Cheap On Earnings

Sandisk Corporation(SNDK.US) trades cheaply as broader checks appear overvalued. Read in detail>>

Intel Stock Jumps on Q2 Beat

• Intel Corporation(INTC.US) shares rose 5% premarket after Q2 results beat estimates, but analysts note low expectations and Foundry segment struggles.
• Intel Corp sees Q3 revenue of US$15.8B-$16.8B from strong AI chip demand, beating Wall Street's US$15.1B estimate.
• Intel Corp reported earnings missing estimates, raising doubt on the AI chip boom, sending shares lower. Read in detail>>
• Intel Corp CEO Lip-Bu Tan said AI chip supply shortages will persist for the foreseeable future. Read in detail>>
• Intel Corp will buy 40% more chip tools in 2026 than 2025, per its finance chief. Read in detail>>
• Intel executive revealed capital expenditure (CapEx) is now expected to exceed US$20 billion. $INTEL INTC$. Read in detail>>

Fly-E Group's losses narrow

Fly-E Group, Inc.(FLYE.US) Q4 loss per share improved to US$-2.24 from US$-13.60 YoY, with sales rising to US$7.177M from US$5.051M. Read in detail>>

AmEx Q2 Revenue Miss

• American Express Company(AXP.US) stock fell 2.7% premarket Friday after Q2 revenue missed estimates due to lower net interest income.
• American Express Company(AXP.US) reported GAAP EPS of US$4.53, beating by US$0.13, but revenue of US$19.64B missed by US$60M.

Verizon Misses Revenue, Beats EPS

Verizon Communications Inc.(VZ.US) posted Non-GAAP EPS of US$1.30, beating estimates by US$0.03, but revenue of US$34.25B missed by US$860M.

NextEra Energy Beats EPS, Misses Revenue Heavily

NextEra Energy Partners LP(NEP.US) reported Non-GAAP EPS of US$1.15, beating by US$0.04, while revenue of US$7.53B missed by US$640M.

MOGU Reports Earnings Beat

MOGU(MOGU.US) posted GAAP EPS of US$0.03 on revenue of US$18.1M, exceeding expectations.