Stock futures were broadly higher on Friday, stabilizing after a tough session in which a sharp spike in oil prices and lackluster earnings from two megacap companies pressured the broader equity market.

S&P 500 futures added 0.3%, while Nasdaq-100 futures were up 0.2%. Dow Jones Industrial Average futures led gains, 213 points, or 0.4%.

Intel shares jumped 3% in premarket trading after the chipmaker’s second-quarter results exceeded Wall Street’s expectations. Notably, the company’s revenue grew 25% — its strongest for any period since the third quarter of 2011.

Helping sentiment as well, the recent rally in oil prices lost momentum Friday. Brent crude futures, which topped $100 per barrel for the first time since late May this week, eased from those levels to currently trade at roughly $97, dropping 3%. U.S. West Texas Intermediate futures
 fell 2% to trade above $89 a barrel.

The moves come after the Dow dropped more than 500 points, or around 1%, on Thursday for its fifth negative day in six. The S&P 500 and Nasdaq had their worst one-day performances since June 23, dropping 1.2% and 2.2%, respectively.

Meanwhile, European stocks opened broadly higher on Friday as investor sentiment on the continent improved. The pan-European Stoxx 600 index was last seen 0.5% higher. London’s FTSE 100 was up 0.3%, while France’s CAC 40 added 0.4% and Germany’s DAX advanced 0.8%.

Asia-Pacific markets, however, closed in the red, with South Korean equities leading losses. The Kospi plunged over 5.7%. Japan’s Nikkei 225 slid 2.7%. Australia’s benchmark S&P/ASX 200
 fell 0.75%.

U.S. President Donald Trump said he will soon make a decision on whether to launch a “massive attack” on Iran after the conflict in the Middle East extended to a new battleground in the Red Sea. Speaking to Axios on Thursday, the president said the proposed strikes would be bigger than anything seen in the war so far, and that Iran has not “received enough pain yet.”

“I am considering a massive attack. Bigger than ever before. I am close to making a decision. We are all set for it,” Trump said in the interview.

U.S. forces have pummeled Iranian targets over the past two weeks, with Central Command completing a 13th consecutive night of strikes overnight.

“While current positioning does not guarantee that oil will continue rising, it does mean that the market entered the latest escalation poorly positioned for an upside surprise,” Adam Turnquist, chief technical strategist at LPL Financial. “And when sentiment and positioning are extremely bearish, even a modest deterioration in supply expectations can produce an outsized price response.”

Quarterly results from Tesla
 and Alphabet also weighed on the broader market Thursday. Tesla tumbled nearly 15% — its worst day since March 10, 2025 — after posting an earnings miss for the second quarter. Alphabet hiked its full-year guidance for capital expenditures, leading the tech giant to a 7% loss. That’s its biggest daily decline since May 7, 2025.

The major averages are now on pace for weekly declines. The Dow and S&P 500 have shed 0.8% and 0.7%, respectively. The Nasdaq has underperformed, losing 1.5%.