(Sharecast News) - Wall Street futures were little changed ahead of the bell on Thursday as markets paused following yesterday's rally, with geopolitical developments and fresh earnings updates in focus.
As of 1250 BST, Dow Jones futures were up 0.04%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.09% and 0.06% firmer, respectively.
The Dow closed 612.34 points higher on Wednesday after Axios reported that the US and Iran were nearing a deal to end their conflict.
Two US officials and two additional sources briefed on the matter told CNBC that the White House believed it was close to finalising a one‑page, 14‑point memorandum of understanding that would not only end the conflict with Iran but also set out a framework for more detailed nuclear negotiations. An Iranian foreign ministry spokesperson said Tehran was evaluating a fresh US proposal aimed at securing a resolution.
Alongside easing geopolitical tensions, a strong US earnings season also underpinned sentiment, with DoorDash reporting better‑than‑expected first‑quarter results, as earnings of $0.42 per share beat the $0.36 consensus estimate, although revenues of $4.04bn came in slightly below forecasts of $4.14bn. DoorDash also guided for second‑quarter marketplace gross order value of $32.4bn to $33.4bn, ahead of analysts' expectations of $32.43bn, as the delivery platform continues to invest in new technology to drive customer growth.
In terms of Thursday's earnings, McDonald's posted better‑than‑expected first‑quarter earnings, as higher spending in its US restaurants helped lift results despite what chief executive Chris Kempczinski described as a challenging operating backdrop. Adjusted earnings came in at $2.83 per share, ahead of the $2.74 expected, while revenues rose 9% year‑on‑year to $6.52bn, also topping forecasts. The fast‑food giant reported net income of $1.98bn, up from $1.87bn a year earlier.
Airbnb and Expedia were slated to report earnings after the close.
On the macro front, US employers announced 83,387 job cuts in April, according to Challenger, Gray and Christmas, the highest total in three months and up from 60,620 in March. However, despite the month‑on‑month increase, layoffs were still 21% lower than in at the same time a year earlier, although the latest figure also marked the third‑highest April total since 2009. The tech sector once again accounted for the largest share of reductions, with 33,361 planned cuts, followed by warehousing at 5,743 and services at 4,110. Artificial intelligence was cited as the reason for 26% of all layoffs - leading all categories for the second consecutive month. So far in 2026, employers have announced 300,749 job cuts, down 50% on the same period in 2025, with tech being the biggest contributor with 85,411 cuts, while AI‑related reductions totalled 49,135, making it the third‑largest driver of layoff plans this year.
Still to come, weekly jobless claims numbers from the Labor Department were scheduled for publication at 1330 BST, as were preliminary readings of Q1 non-farm productivity and labour unit costs, while February and March construction spending figures were slated for release at 1530 BST, and March consumer credit change figures will follow at 2000 BST.
Reporting by Iain Gilbert at Sharecast.com