Trading on Wall Street mixed in premarket while oil prices fall on Trump's shipping waiver extension
Wall Street markets were mixed in premarket trading as oil prices fell after President Donald Trump extended a waiver allowing foreign vessels to transport energy products to the U.S. Futures for the S&P 500 rose 0.3%, while Nasdaq futures jumped 1.3% led by chipmakers.
Wall Street markets were mixed before the bell on Friday. Futures for the S&P 500 rose 0.3%, while futures for the Dow Jones Industrial Average were unchanged. Nasdaq futures jumped 1.3% led by chipmakers, with Intel soaring over 27% after beating first-quarter sales and profit targets. President Donald Trump extended a 90-day waiver to the Jones Act, making it easier for non-American vessels to transport oil and natural gas to the U.S. Oil prices fell, with Brent crude dropping 68 cents to $98.67 and U.S. crude falling $1.05 to $94.80. The waiver extension is seen as helping to stabilize energy prices following the Iran war, which has caused a global energy shock and threatened to worsen inflation. The Strait of Hormuz remains largely closed, and a U.S. sea blockade of Iranian ports is still in effect.
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