US Futures Hold Firm on Iran Deal Hopes

US stock futures were little changed on Friday after US President Donald Trump signaled optimism over a potential agreement to end the conflict with Iran, saying Tehran had accepted terms it has long resisted. Trump also announced a 10-day ceasefire between Israel and Lebanon, later confirmed by Israeli Prime Minister Benjamin Netanyahu. In regular trading on Thursday, the S&P 500 and Nasdaq Composite rose 0.26% and 0.36%, respectively, with both benchmarks closing at fresh record highs, while the Dow added 0.24%. Seven of the 11 S&P sectors finished higher, led by gains in energy, real estate, and technology. In corporate developments, Netflix shares fell nearly 10% in extended trading after the company issued a soft second-quarter outlook and said co-founder and chairman Reed Hastings would step down from the board in June.

The Dow Jones Index rose 120 points or 0.25 percent on Thursday to close at 48583 points. Leading the gains are Verizon (3.93%), Cisco Systems (2.56%) and IBM (2.41%). Top losers were Boeing (-2.09%), Merck (-2.08%) and J&J (-1.77%).

The S&P 500 and Nasdaq hit new record highs Thursday, extending a strong week driven by hopes of easing Iran tensions.The S&P 500 rose 0.3% to new record high, the Nasdaq gained 0.4% to 24,100 while the Dow added 115 points. Markets got an extra lift after President Trump said Israel and Lebanon agreed to a 10-day ceasefire starting at 5 p.m. ET, a move seen as key to potential US-Iran talks. Energy, materials, and real estate led sector gains, while healthcare and consumer discretionary lagged. PepsiCo rose 2.5% after reporting better-than-expected earnings and revenue, while Bank of New York Mellon gained 2% on strong results. In contrast, Charles Schwab fell 7% as its results disappointed, and Abbott Laboratories dropped more than 6% following weak guidance. Finally, Netflix Inc. forecast a weaker-than-expected Q2, sending shares lower, and said co-founder Reed Hastings will step down as chairman after 29 years.