Stock Futures Higher, Oil Elevated as European and Asian Markets Shut

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Published on 05/01/2026 at 04:35 am EDT - Modified on 05/01/2026 at 04:36 am EDT

By Dow Jones Newswires Staff

U.S. stock futures edged higher after most major indexes recorded their best month in six years, as the continued impasse in U.S.-Iran peace talks took a back seat.

Market sentiment was driven by renewed optimism around technology, even as Brent crude oil remained above $100 a barrel on the continued effective closure of the Strait of Hormuz.

U.S Treasurys were steady in quiet European trade. The Japanese yen surged against the dollar in Asian trade as possible central bank intervention undid the currency's wartime losses.

Most markets were closed across Europe and Asia for May Day, marking a quiet end to a frantic week of tech earnings and central bank decisions.

--In early European trading, Brent crude for July deliver--now the front-month contract--was up 0.2% to $110.66 a barrel, while WTI futures for June slipped 0.5% to $104.46 a barrel. The international oil benchmark surged to its highest in four years on Thursday, before easing by the close as markets await progress in negotiations. Meanwhile, "the gap between the paper and physical markets is narrowing as tightness begins to materialize for the first time since the conflict began," analysts at ANZ said.

--U.S. futures pointed to slight gains at the open after stocks ended April on a high. The S&P 500 and Nasdaq closed at fresh records, notching their best month performance since 2020. Futures tied to the indexes rose 0.1% and 0.05%, respectively. Futures for the Dow Jones Industrial Average were up by 0.1%, with April the index's largest one month percentage gain since November 2024.

Apple shares rose 2.4% in premarket trade following a surge in the company's iPhone sales.

--Exchanges are closed across most Asian markets. The Tokyo Stock Exchange was an exception, with the Nikkei 225 rising 0.4%. Tech investment group SoftBank closed 3.9% higher. Australia's S&P/ASX 200 rose 0.7%.

--The U.K.'s FTSE 100 index fell 0.4% at the open as exchanges across Europe are closed for May Day. NatWest shares fell 3.3% after the bank reported earnings. AstraZeneca dropped 1.9% after a breast-cancer drug candidate didn't receive majority approval from an FDA committee. Moving up, education group Pearson rose 2.7% after earnings, while consumer goods company Unilever gained 1.9%. Exchanges in Germany, France, Italy and Spain are all closed for the public holiday. Trading will resume Monday.

--The DXY dollar index rose 0.2% to 98.217. The yen strengthened, hitting its strongest level in nine weeks against the dollar. The yen's advance adds to sharp gains seen on Thursday after Japan's finance minister stepped up warnings against speculators and signaled a potential intervention. Some media reported that Japanese financial authorities intervened Thursday to bolster the yen. The yen now virtually erases all the losses it suffered since the U.S. military operations in Iran started in late February. The dollar was at 156.20 yen after hitting 155.51 yen, its lowest level since Feb. 25, compared with 157.05 yen before the latest drop

--Treasury yields traded steady in quiet trade. The 10-year Treasury yield trades little changed at 4.386%, well below a one-month peak of 4.434% hit on Wednesday, Tradeweb data show

--Bitcoin rose 0.7% to $76,969.

--Gold prices were headed for a weekly loss of 3% as higher oil prices fueled expectations that central banks might keep interest rates higher for longer. In early European trading, New York futures were down 0.6% to $4,600.20 a troy ounce, with thin trading volumes due to public holidays. Meanwhile, silver futures fell 0.6% to $73.61 an ounce, while platinum was down 0.8% to $1,977.80 an ounce.

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(END) Dow Jones Newswires

05-01-26 0434ET