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A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 5, 2026. REUTERS/Jeenah Moon Purchase Licensing Rights, opens new tab

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  • Futures: Dow up 0.29%, S&P up 0.11%, Nasdaq down 0.52%

Aug 6 (Reuters) - S&P 500 and Dow futures were steady ​on Thursday after this week's record-breaking rally as investors awaited details on a Middle East peace ‌deal, while Nasdaq futures slipped as strong forecasts from Western Digital and SanDisk failed to impress.

Data storage company Western Digital (WDC.O), opens new tab lost 15% and memory chip maker Sandisk (SNDK.O), opens new tab dropped 9% in premarket trading, after having shot up 200% and 400% this year. Both the companies forecast quarterly revenue ​above expectations, betting on strong AI-driven demand.

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Shares of other chip stocks such as Micron (MU.O), opens new tab shed 3.5%, while ​Advanced Micro Devices (AMD.O), opens new tab, Marvell Technology (MRVL.O), opens new tab and Intel (INTC.O), opens new tab lost over 1% each.

Megacaps such as Meta (META.O), opens new tab and ⁠Amazon (AMZN.O), opens new tab were marginally higher, while Alphabet (GOOGL.O), opens new tab was up about 0.7%, a day after dropping 4% on an announcement about a leadership ​overhaul of its AI division. Apple (AAPL.O), opens new tab rose 0.8%.

SpaceX (SPCX.O), opens new tab rose 1.5% ahead of the space conglomerate's first post-IPO share lockup expiry. ​The broader AI-linked group of stocks showed signs of cooling from a rally.

Strong earnings from tech leaders this reporting season have restored investor confidence that AI investments were being monetized, which helped the benchmark S&P 500 (.SPX), opens new tab and the blue-chip Dow (.DJI), opens new tab reclaim record highs earlier ​this week. The Nasdaq (.IXIC), opens new tab is about 3% away from an all-time high.

At 05:07 a.m. ET, Dow E-minis were ​up 159 points, or 0.29%, and S&P 500 E-minis were up 8.25 points, or 0.11%. Nasdaq 100 E-minis were down 155.25 points, ‌or ⁠0.52%.

Brent crude prices traded in a tight range near $80 a barrel as markets were keen on any signs of a deal between Iran and the U.S. A proposed deal between Iran and Oman would give Tehran control over ships entering the Gulf through the Strait of Hormuz, sources told Reuters.

The Federal Reserve has been keen on the outlook for energy costs, with most central ​bankers voicing that they were ​prepared to act if ⁠price pressures increase. St. Louis Fed President Alberto Musalem is expected to speak on monetary policy later in the day.

With Chairman Kevin Warsh staying mum on forward guidance, traders ​are struggling to gauge the central bank's next policy move.

Probabilities for no change versus ​a rate ⁠hike in September are now closer to even, the CME FedWatch Tool showed. Last week, traders were pricing in a 37% chance for rates staying unchanged versus 63% for a rate increase.

A report at 8:30 a.m. ET is expected to ⁠show jobless ​claims in the week ended Aug. 1 stood at 202,000, up from ​197,000 the week before. The greater focus will be on the official non-farm payrolls figures for July due on Friday.

Markets also await reports ​from ConocoPhilips (COP.N), opens new tab, Molson Coors (TAP.N), opens new tab and Keurig Dr Pepper (KDP.O), opens new tab among others.

Reporting by Johann M Cherian in Bengaluru; Editing by Devika Syamnath

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category · August 6, 2026 · 9:49 AM UTC · ago

Pick n Pay's group turnover rose 2.7% in the ​20 weeks ended July 19, with ‌strong growth at its Boxer discount chain helping to offset continued pressure on its ​core supermarket business, the South African ​grocery retailer said on Thursday.

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