Stock Market Update

The S&P 500 futures currently trade 28 points above fair value.

Sandisk (SNDK 1,043.31, -53.20, -4.9%) and Western Digital (WDC 401.01, -33.51, -7.7%) are both sharply lower despite beating earnings expectations, suggesting potential exhaustion in the recent rally.

Elsewhere, Axios reporter Barak Ravid said via X, "Iran delivered on Thursday to the U.S. through the Pakistani mediators its response to the latest U.S. amendments on the agreement to end the war, a regional source tells me." Crude oil is currently down $2.24 (-2.1%) to $102.83 per barrel.