US Stock Market Today | Dow Jones | Nasdaq Live: US stocks open muted over fragile Mideast truce; inflation data parsed
Why it matters: The Middle East truce's fragility is causing oil prices to rebound, directly impacting inflation expectations and Fed rate cut probabilities.
- US stock futures fell Thursday, with the Dow Jones, Nasdaq, and S&P 500 opening muted due to Mideast truce fragility and inflation data parsing.
- Oil prices rebounded amid Strait of Hormuz uncertainty and concerns over energy shipments, though remaining below $100 per barrel, as reported by NYT Business and ZeroHedge.
- Applied Digital shares dropped 3.8% after reporting widening third-quarter losses, while Coreweave gained 7% following a $21 billion expanded cloud deal with Meta Platforms.
- Market expectations for Fed rate cuts have fallen to just a 30% chance of a 25 basis-point cut by year-end, reflecting heightened geopolitical uncertainty.
- Investors are awaiting February's PCE index, expected steady at 2.8%, and final Q4 GDP data, with Friday's March CPI further gauging oil price impact.
- BCA Research analysts cautioned against aggressively increasing risk exposure despite Wednesday's significant market gains, while Tom Lee (CoinDesk) believes the Iran ceasefire signals the start of a massive bitcoin rally.
US stock futures opened muted Thursday as a fragile Middle East truce and rising oil prices, fueled by Strait of Hormuz uncertainty, tempered investor optimism despite recent market gains. While some analysts caution against aggressive risk-taking, others like Tom Lee see the ceasefire as a catalyst for a bitcoin rally, highlighting a divergence in market sentiment.
