Wall St futures steady as investors await Mideast deal updates; Dell soars
- By Reuters -
- May 29, 2026
U.S. stock index futures were steady on Friday, after closing at record highs in the previous session, with markets awaiting details on reports that the U.S. and Iran had reached a deal.
Sources told Reuters that Washington and Tehran had agreed to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz, but President Donald Trump was yet to approve it.
“Risk appetite has improved as geopolitical fears ease and inflation data avoids a major upside surprise,” said Daniela Hathorn, senior market analyst at Capital.com.
“Much of the recent rally still relies on assumptions that tensions continue to de-escalate and earnings remain resilient. Investors are likely to remain highly sensitive to both geopolitical headlines and incoming inflation data in the weeks ahead.”
Economic data on Thursday showed U.S. inflation increased at its fastest pace in three years in April, while U.S. GDP for the first-quarter was revised lower to a 1.6% annual rise.
At 06:28 a.m. ET, Dow E-minis were up 71 points, or 0.14%, and S&P 500 E-minis were up 6.25 points, or 0.08%. Nasdaq 100 E-minis were up 16.25 points, or 0.05%.
Wall Street’s major indexes have been on a record run, driven by renewed optimism around AI and strong earnings growth, despite concerns about the Iran war’s impact on inflation and global growth.
Dell surged 37.8% before the bell, after raising its full-year profit and revenue forecasts. Peers Hewlett Packard Enterprise and Super Micro Computer gained 18% and 10.4%, respectively.
The S&P 500 was on track for a ninth consecutive weekly gain, its longest winning streak since December 2023. The Dow Jones and the Nasdaq were also set to end the week higher.
All three indexes are set to log a second straight month of gains.
Money markets expect the Federal Reserve to keep interest rates steady for the rest of the year, with some expectations of a 25 bps hike in December.
U.S. central bankers have said in recent days that there might be a case for raising interest rates if inflation does not ease soon, while expressing skepticism over AI’s ability to aid that process.
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Investors will keep an eye on comments from Fed presidents Anna Paulson, Neel Kashkari and Mary Daly through the day to gauge the monetary policy path forward.
Among other movers, Gap shares tumbled 16.8% after the apparel retailer cut its annual sales forecast, signaling pressure from budget-strained Americans.
International Flavors & Fragrances rose 2.3% after the Wall Street Journal reported that the flavor maker is nearing a deal to sell its food ingredients business to private equity firm CVC Capital Partners for more than $4 billion.
Okta rose 7.4% after the digital identity verification firm posted first-quarter revenue above expectations.