Stock market today: S&P 500, Nasdaq futures rise as focus turns to AI despite war jitters

Updated Thu, July 9, 2026 at 5:50 AM PDT 1 min read

US stock futures mostly rose on Thursday as investors focused on AI prospects ahead of SK Hynix's US trading debut, setting aside jitters over a flare-up in US-Iran hostilities.

Contracts on the tech-heavy Nasdaq-100 (NQ=F) climbed 0.7%, while those on the S&P 500 (ES=F) put on 0.1%. Dow Jones Industrial Average futures (YM=F) fell 0.1% after Wall Street stocks closed mixed on Wednesday.

Investors are taking stock after a surge in tensions between the US and Iran saw the two sides trade new attacks on Thursday, putting a fragile truce to the test. The fighting intensified as the US launched airstrikes on 90 Iranian targets, and Iran retaliated by striking US-allied countries in the Mideast. The US also revoked a temporary waiver on Iran oil sanctions, which helped spur a rally in crude prices.

Oil prices rose modestly on Thursday morning, extending some of Wednesday's gains as markets factored in the bumpy path to Middle East peace but largely shrugged off the escalation in hostilities.

The focus remains on the AI trade ahead of SK Hynix's highly anticipated Nasdaq debut on Friday. The South Korean memory giant is set to price its US offering on Thursday, with demand running at seven times the amount of shares available. The IPO comes as investors continue to assess the recent chip stock sell-off that shook confidence in an AI boom.

On the macro front, a weekly update on initial jobless claims could help set expectations for interest rates. Meanwhile, Pepsi's (PEP) results showed American consumers tightened their budgets due to economic worries, even as the drinks maker's revenue topped expectations.