U.S. equity futures were little changed on Friday as investors adopted a cautious stance ahead of potential weekend talks between Washington and Tehran. Optimism around a lasting de-escalation was supported by a ceasefire between Israel and Lebanon, while U.S. President Donald Trump indicated the conflict with Iran could be nearing its conclusion. Meanwhile, Netflix (NASDAQ:NFLX) came under pressure after announcing leadership changes and issuing a softer outlook.
Futures Hold Near Flatline
Futures tied to major U.S. indices hovered around unchanged levels as markets awaited developments on possible renewed U.S.-Iran negotiations.
As of 03:17 ET, Dow futures rose 124 points, or 0.3%, S&P 500 futures edged up 6 points, or 0.1%, while Nasdaq 100 futures slipped 14 points, or 0.1%.
In the previous session, both the S&P 500 and Nasdaq Composite reached fresh record highs, extending a weeklong rally. The gains followed Trump’s announcement of a pause in hostilities between Israel and Lebanon, alongside indications that discussions with Iran could resume before the current ceasefire expires later this month.
With tensions appearing to ease, investor focus shifted toward the technology sector, which has rebounded after early-2026 weakness linked to concerns over disruption from emerging artificial intelligence tools. Chip-related companies such as Sandisk, Intel, and Micron Technology have led recent gains.
At the same time, early earnings season updates have been broadly solid. Major Wall Street banks described the U.S. economy as resilient despite the energy shock tied to the Iran conflict, while industrial firms like J.B. Hunt reported profits even as fuel costs surged.
Trump Points to Possible Weekend Talks with Iran
Trump suggested that negotiations with Iran could take place over the weekend and signaled openness to extending the current ceasefire if progress is made.
A ceasefire between Israel and Lebanon that took effect Thursday may help remove a key obstacle in broader negotiations. However, Israel has continued targeting Iran-backed Hezbollah forces in Lebanon despite the wider truce.
Officials from both Israel and Lebanon confirmed the agreement, though Hezbollah has not formally accepted it, stating it will act based on “how developments unfold.”
Trump reiterated his view that the conflict, which began in late February, is likely to end soon.
“Generally I’m sympathetic to the view that a resolution is more likely than not over the coming weeks even if the path is unlikely to be a straight line,” said Jim Reid, Global Head of Macro and Thematic Research at Deutsche Bank.
Oil Prices Ease Below $100
Crude prices remained below $100 per barrel as traders monitored geopolitical developments and prospects for a durable peace agreement.
After the conflict erupted, oil prices briefly spiked to around $120 per barrel, up from approximately $70 beforehand. Much of the increase has been driven by disruptions in the Strait of Hormuz, a critical shipping route off Iran’s southern coast responsible for about one-fifth of global oil flows.
Analysts at ING estimate that roughly 13 million barrels per day have been affected by the disruption.
The surge in oil prices has raised concerns about inflation globally, with potential implications for central bank policy, currency markets, and gold. Both the International Energy Agency and OPEC have warned of softer demand ahead, while limited shipping through the strait and ongoing U.S. restrictions on Iranian ports could continue to constrain supply.
“Control of the Strait remains the main flashpoint,” analysts at OCBC said, adding that negotiations between the U.S. and Iran could take up to six months.
Netflix Falls as Hastings Plans Board Exit
Shares of Netflix (NASDAQ:NFLX) declined in premarket U.S. trading and early European dealings after the company issued weaker-than-expected revenue projections and announced that Chairman Reed Hastings will not seek re-election.
While the group maintained its full-year guidance, it indicated that second-quarter operating margins would come in below the prior year.
Netflix said that “growth in content amortization will be first-half weighted due to the timing of title launches,” adding that it expects the second quarter to “have the highest year-over-year content amortization growth rate in 2026, before decelerating to mid-to-high single digit growth in the second half of the year.”
In a separate statement, the company confirmed that Hastings—who co-founded Netflix as a DVD-by-mail service nearly 30 years ago and led its transformation into a global streaming leader—will step down from the board after his term ends in June.
Apple iPhone Shipments Surge in China
Apple’s (NASDAQ:AAPL) iPhone shipments in China rose 20% in the first quarter, marking the strongest growth among major manufacturers, despite an overall contraction in the market due to rising memory chip costs, according to Counterpoint Research.
The U.S. tech giant climbed to second place in the market, supported by strong demand for the iPhone 17 lineup, promotional pricing, and government subsidies. It also recorded the fastest growth among the top six vendors.
Counterpoint noted that Apple appears well positioned to navigate the global memory shortage, citing its premium product range and supply chain strength. “In the near-to-medium term, it is more likely to absorb rising costs internally and expand its market share,” the firm said.
Overall smartphone shipments in China declined 4% in the first quarter, weighed down by supply disruptions and higher component costs.
“Rising component costs are already driving up retail prices, affecting both legacy models and the launch prices of new devices. This trend is expected to keep the Chinese smartphone market under significant pressure through the second quarter,” said Counterpoint analyst Ivan Lam.