08:08 AM EDT, 05/08/2026 (MT Newswires) -- US equity futures were edging higher pre-bell Friday as traders continued to monitor developments in the Middle East conflict, with the US and Iran exchanging fire but President Donald Trump saying that the ceasefire was still in effect.

Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.7% higher.

The US and Iran traded fire in the Strait of Hormuz, with each side claiming that the other started the attack. In a post on Truth Social, Trump said there was no damage done to three Destroyer vessels, but "great damage" to Iranian boats. "We'll knock them out a lot harder, and a lot more violently, in the future, if they don't get their Deal signed, FAST!" he added.

Trump told reporters that the ceasefire was still in effect. The US is still waiting for Iran's response on its proposal to end the war and postpone nuclear talks to a later date.

Traders absorbed the latest round of earnings, with Enbridge ( ENB ) reporting lower Q1 adjusted earnings amid higher revenue and Brookfield Asset Management ( BAM ) posting increases in Q1 distributable earnings and revenue.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.6% at $100.70 per barrel and US West Texas Intermediate crude 0.2% higher at $95.04 per barrel.

The unemployment rate for April, scheduled for release at 8:30 am ET, is expected to remain unchanged at 4.3%, according to estimates compiled by Bloomberg. The University of Michigan consumer sentiment index for May, slated for 10 am ET, is expected at 49.5, down from 49.8 previously.

There will be panel discussion featuring Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Christopher Waller, San Francisco Fed President Mary Daly and Chicago Fed President Austan Goolsbee at 7:30 pm ET.