Investing.com - Futures linked to the main U.S. indices were subdued ahead of possible weekend U.S.-Iran peace negotiations. Hopes for a prolonged end to the conflict were bolstered by a ceasefire between Israel and Lebanon, while U.S. President Donald Trump suggests that a conclusion to the war should be coming soon. Elsewhere, Netflix announces that Chairman Reed Hastings will not stand for re-election later this year, while an underwhelming outlook sends shares in the streaming giant sharply lower.
1. Futures muted
U.S. stock futures hovered around both sides of the flatline on Friday, with investors hunkering down prior to possible renewed peace talks between the U.S. and Iran.
By 03:17 ET (07:17 GMT), the Dow futures contract had gained 124 points, or 0.3%, S&P 500 futures had ticked up by 6 points, or 0.1%, and Nasdaq 100 futures had dipped slightly by 14 points, or 0.1%.
The benchmark S&P 500 and tech-heavy Nasdaq Composite notched fresh record highs in the prior session, extending a weeklong rally, following President Trump's announcement of a pause to fighting between Israel and Lebanon. Trump also suggested that negotiations between Washington and Tehran may resume this weekend, ahead of the expiration of their own ceasefire later this month.
As a shaky truce in the Middle East appeared to hold, traders turned their attention to the tech sector, which has been bouncing back from a slide at the outset of 2026 due to worries around disruptions from new artificial intelligence tools. Companies that make the hardware underpinning cutting-edge AI chips, such as Sandisk, Intel, and Micron Technology, have been among the standout performers.
Meanwhile, analysts have been taking note of broadly solid corporate results in the early days of latest quarterly earnings season. Executives at major Wall Street banks widely described the U.S. economy as resilient in the face of an energy shock brought on by the Iran war, while industrial-linked firms like J.B. Hunt logged profits despite a conflict-driven jump in fuel costs.
2. Trump hints at fresh U.S.-Iran peace talks this weekend
Along with the prospect of weekend talks with Iran, Trump flagged that he would consider extending their ceasefire due if Washington was close to an agreement with Tehran.
Crucially, the halt to strikes between Israel and Lebanon could remove one key sticking point in negotiations. Despite the U.S.-Iran ceasefire, Israel has continued to carry out strikes on Iran-aligned Hezbollah militants in neighboring Lebanon.
Both Israel and Lebanon officials have confirmed the truce, although Hezbollah did not say whether it would accept it and would instead base its actions on "how developments unfold."
Still, Trump has reiterated his belief that the Iran war, which began in late February, should end soon.
"Generally I'm sympathetic to the view that a resolution is more likely than not over the coming weeks even if the path is unlikely to be a straight line," said Jim Reid, Global Head of Macro and Thematic Research at Deutsche Bank Research, in a note.
3. Oil drops
Oil prices sat below $100 a barrel, with traders keeping tabs on hopes for a long-term peace deal.
Following the outbreak of the war, crude briefly soared to as high as $120 a barrel, compared to pre-conflict levels of around $70 a barrel.
Underpinning much of the surge has been the effective closure of the Strait of Hormuz, a narrow waterway off of Iran's southern coast through which roughly a fifth of the world's oil squeezes. Analysts at ING estimate that around 13 million barrels per day of oil have been disrupted by the shuttering of the strait.
The energy shock has in turn sparked fears around both a spike in inflation in countries around the world and faltering global economic growth. There has been subsequent debate around the cascading impact of these trends on everything from central bank interest rate policy to gold and currencies.
Both the International Energy Agency and the Organization of Petroleum Exporting Countries warned of softer demand in the coming months, while a trickle of shipping through the Strait of Hormuz and an ongoing U.S. blockade of Iranian ports may hit supplies.
"Control of the strait remains the main flashpoint," OCBC analysts said, warning that U.S.-Iran negotiations could take as much as six months.
4. Netflix's Hastings to leave board
Shares of Netflix tumbled in premarket U.S. trading and early European dealmaking after the streaming giant outlined revenue growth projections that were below expectations and announced that Chairman Reed Hastings would not seek re-election.
The group left its full-year outlook unaltered and flagged that its second-quarter operating margins would be lower than the same period last year.
Netflix noted that "growth in content amortization will be first-half weighted due to the timing of title launches," adding that it expects the second quarter to "have the highest year-over-year content amortization growth rate in 2026, before decelerating to mid-to-high single digit growth in the second half of the year."
At the same time, Netflix said in a letter that Hastings, who co-founded Netflix as a DVD-by-mail business nearly three decades ago and has overseen its transformation into an entertainment industry juggernaut, will step down from the firm's board after his term expires in June.
5. Apple's iPhone shipments jump in China
Apple's iPhone shipments in China jumped 20% in the first quarter, the strongest growth among major vendors, even as the broader market contracted amid rising memory chip costs, according to data from Counterpoint Research.
The U.S. tech giant climbed to second place in the quarter, supported by sustained demand for the iPhone 17 series, promotional price cuts and government subsidies. It also posted the highest growth rate among the top six brands in the period.
Counterpoint said Apple is seen as best positioned to weather an ongoing memory chip shortage, citing its premium product lineup and supply chain management. "In the near-to-medium term, it is more likely to absorb rising costs internally and expand its market share," the firm wrote.
Overall smartphone shipments in China fell 4% in the January-to-March period, weighed down by supply chain disruptions and soaring chip prices.
"Rising component costs are already driving up retail prices, affecting both legacy models and the launch prices of new devices. This trend is expected to keep the Chinese smartphone market under significant pressure through the second quarter," said Counterpoint analyst Ivan Lam.