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* Futures mixed: Dow down 0.36%, S&P 500 flat, Nasdaq up
0.60%
April 24 (Reuters) - Wall Street futures were mixed on
Friday, with markets heading toward the end of a week
overshadowed by the U.S.-Iran stalemate that extinguished hopes
of a swift end to the war.
After widespread speculation around a second round of
negotiations between Washington and Tehran, no talks took place,
and there is still no clarity on when they might.
U.S. President Donald Trump unilaterally extended the
ceasefire with Iran, but maintained the naval blockade of
Iranian ports. Iran also seized ships attempting to pass through
the Strait of Hormuz.
Some investor fatigue may also be setting in. Israel and
Lebanon extended their ceasefire for three weeks at a meeting
brokered by Trump, but investors are holding out for firmer
evidence of lasting progress.
Strong earnings from a series of corporations offered some
respite. Yet with the results taking into account just one month
of the war disruption, some investors have questioned how
reliable they are as a guide to what lies ahead.
At 5:19 a.m. ET, Dow E-minis fell 177 points, or
0.36%, S&P 500 E-minis were flat, and Nasdaq 100 E-minis
advanced 162.25 points, or 0.60%.
Oil prices remain the biggest source of uncertainty, as
Brent crude futures are still around 47% above pre-war
levels because of disruption in the crucial Strait of Hormuz
shipping route.
Still, some see the pullback as a buying opportunity,
arguing that valuations have become more compelling.
The S&P 500 and the Nasdaq Composite have hit
record highs in recent days on the belief that the economic
fundamentals remain solid despite the war.
"Strong market entry points are rarely found during moments
of comfort or clarity. Instead, the most attractive buying
opportunities are typically associated with periods of market
stress," said Jeff Schulze, head of economic and market strategy
at ClearBridge Investments.
Stocks under the spotlight in the premarket session included
Intel ( INTC ), which jumped 23.3% after forecasting
second-quarter revenue above estimates. Rival AMD rose
7.3%.
Online education platform Coursera ( COUR ) fell 10.2% after
its first-quarter results.
DeepSeek, the Chinese artificial intelligence startup whose
low-cost model stunned the world last year, launched a preview
of its highly awaited new model adapted for Huawei chip
technology,
But the U.S. stocks battered by the model last year appeared
to be holding up relatively well. ChatGPT-backer Microsoft ( MSFT )
was up 0.7%, and chip designer Marvell Technology ( MRVL )
rose 3.5%.
(Reporting by Niket Nishant in Bengaluru; Editing by Devika
Syamnath)