Stock Futures Slide As Doubts Over Ceasefire Send Oil Higher

Global markets experienced volatility as the fragile US-Iran ceasefire deal faced challenges, causing stocks to decline and oil prices to rebound. S&P and Nasdaq futures fell, with European and emerging market stocks also sliding. The dollar edged higher but US Treasury yields saw mixed movements. Economic data releases, including the PCE price index, were closely watched. Specific company news included Applied Digital missing gross margin estimates and CoreWeave's expanded agreement with Meta driving a stock rise. Several companies, like Simply Good Foods, faced significant drops, while STAAR Surgical saw a massive increase. The ongoing Middle East conflict threatened the ceasefire, causing skepticism in the market. Expectations for earnings will need to be adjusted down. The Fed's preferred inflation gauge showed continued price increases, while various companies saw significant stock movement. Oil prices rose, reversing a portion of the previous day's losses, reflecting uncertainty surrounding the Strait of Hormuz.