Traders work on the floor of the New York Stock Exchange during morning trading on July 08, 2026 in New York City. <\/p>\n
Michael M. Santiago | Getty Images<\/p>\n
S&P 500 futures were marginally higher early Thursday after the market sold off on renewed U.S.-Iran tensions and a jump in oil prices.<\/p>\n
S&P 500 futures<\/a> were 0.13% higher. Futures tied to the Dow Jones Industrial Average<\/a> were up 70 points, or around 0.1%. Nasdaq 100 futures<\/a> advanced 0.1%. <\/p>\n In Asia, South Korea’s Kospi<\/a> surged on Thursday after falling into a bear market the day before. It advanced 2.88%, while the small-cap Kosdaq gained 3.67%. Japan’s\u00a0Nikkei 225<\/a>\u00a0added 1.88% and the Topix was 0.36% higher. Australia’s benchmark S&P\/ASX 200<\/a> was 0.69% lower.<\/p>\n Hong Kong\u00a0Hang Seng Index<\/a>\u00a0inched 0.16% higher, while mainland China’s CSI 300 was flat.<\/p>\n The U.S. launched fresh strikes on Iran<\/a> in response to Tehran’s attacks on commercial shipping in and around the Strait of Hormuz, U.S. Central Command said Wednesday afternoon. West Texas Intermediate crude futures<\/a> were last up nearly 1%. <\/p>\n Earlier in the day, President Donald Trump said he may no longer be interested in negotiating a deal with Iran. Prior to that, he said that the ceasefire between the U.S. and Tehran is “over”<\/a> after another wave of attacks<\/a> in the Middle East. <\/p>\n “Any\u00a0assumption of a swift return to normalized Persian Gulf exports is certainly being challenged,” said Mason Mendez, global real assets analyst at Wells Fargo Investment Institute. “Given the reduced supply buffer of already low global reserves and inventories, any further escalations are likely to re-enforce a higher geopolitical risk premium in oil prices \u2013 even when negotiations eventually resume.”<\/p>\n In regular trading, the Dow<\/a> dropped 576.76 points, or 1.1%, while the\u00a0S&P 500<\/a>\u00a0fell 0.28%. Both indexes were weighed down by a spike in oil prices. The\u00a0Nasdaq Composite<\/a>, however, rose 0.2%, aided by an advance in Nvidia and other chip stocks.<\/p>\n Investors feared that rising energy costs could reignite inflation, forcing the Federal Reserve to keep interest rates elevated for longer than previously expected. Minutes from the Fed’s June meeting<\/a> underscored that uncertainty, revealing a divided central bank reluctant to cut rates until officials see clearer evidence that inflation is moving sustainably toward its target.<\/p>\n