US Stock Futures Fall as Iran Signals No Direct Ceasefire Talks
U.S. stock index futures moved lower early Thursday after Iran stated it is reviewing a ceasefire proposal from United States but has no intention of entering direct negotiations, keeping geopolitical uncertainty elevated.
Futures Slip After Volatile Wall Street Session
Futures declined following a volatile yet positive session on Wall Street, where optimism around a potential ceasefire had initially supported markets.
S&P 500 Futures dropped 0.4% to 6,613.25 points, while Nasdaq 100 Futures and Dow Jones Futures also fell by 0.4%, reflecting cautious sentiment among investors.
Iran Reviews Proposal but Rejects Direct Negotiations
According to state media, Iran is assessing a U.S.-backed ceasefire plan but remains unwilling to engage in direct talks. Iranian Foreign Minister Abbas Araqchi indicated that negotiations could be possible if certain conditions are met, though communications through intermediaries should not be seen as formal discussions.
Reports suggest Washington presented a 15-point ceasefire proposal, which Iran initially rejected. Tehran has also introduced its own five-point plan, including demands for reparations from the U.S. and Israel, as well as potential measures involving the Strait of Hormuz.
Conflicting Signals Keep Markets Uncertain
Despite closing higher on Wednesday, U.S. stock markets gave up a significant portion of their intraday gains as uncertainty over the conflict persisted.
The White House warned of severe consequences if Iran refuses to accept military outcomes, adding to market tension.
By the close, the S&P 500 rose 0.5%, the Nasdaq Composite gained 0.8%, and the Dow Jones Industrial Average advanced nearly 0.7%, though sentiment remained fragile.
Chip Stocks Decline After Google AI Breakthrough
Memory chip stocks came under pressure after Google, part of Alphabet (NASDAQ: GOOGL), introduced a new AI memory compression technology called TurboQuant.
The innovation could significantly reduce memory requirements for artificial intelligence systems without compromising performance, potentially lowering future demand for high-end memory chips.
Shares of Micron Technology, Seagate Technology, and Western Digital declined following the announcement.
Google plans to present TurboQuant at the upcoming ICLR 2026 conference, where further details on the technology are expected.
