Stock Futures Mixed As SpaceX Lockup Expiration And Iran Tensions Test Market Momentum

Idaho News · National
August 6, 2026 at 6:31 AM PDT

Why It Matters

U.S. stock futures traded in mixed territory Thursday as two major forces weighed on investor sentiment: the expiration of trading restrictions on more than 911 million SpaceX shares and lingering uncertainty over Middle East tensions tied to Iran. For Idaho investors and retirement accounts holding broad market exposure, these developments signal continued volatility even as corporate earnings remain strong heading into the final stretch of summer.

What Happened

U.S. equity futures opened with modest gains and losses across major indices on Thursday. The S&P 500 futures rose 0.09 percent, while Dow Jones Industrial Average futures climbed 0.13 percent. Nasdaq futures, however, fell 0.55 percent, reflecting weakness in technology shares.

The primary driver of market caution was the expiration of the lockup period on SpaceX shares owned by early investors and company employees. More than 911 million shares became eligible for sale Thursday, creating potential selling pressure. SpaceX shares initially commanded asking prices above $150 per share but tumbled roughly 25 percent from that level, trading just above $112 before the opening bell. However, SpaceX shares later recovered, rising approximately 3 percent as the day progressed.

Geopolitical concerns also weighed on sentiment. The Trump administration signaled that a deal to reopen the Strait of Hormuz was forthcoming, offering a potential resolution to the five-month-old conflict that has created uncertainty for energy markets. Oil prices reflected the ongoing tension: Brent crude edged up 1 percent to $80.55 per barrel, while U.S. benchmark crude ticked up about 1 percent to $76.02 per barrel. During the height of the conflict, oil prices had spiked as high as $102 per barrel.

On the earnings front, Moderna shares rose nearly 4 percent after the company received regulatory approval for its first messenger RNA influenza vaccine, marking a major milestone for the company’s vaccine pipeline beyond COVID-19.

Markets in Review

Wednesday’s trading set the stage for Thursday’s mixed performance. The S&P 500 slipped 0.2 percent from its all-time high, while the Dow industrials rose 0.5 percent and the Nasdaq composite lost 0.8 percent. Three-quarters of S&P 500 companies have now reported earnings results, with Wall Street expecting 50 percent profit growth when all earnings are tallied.

Corporate earnings have accelerated and energy prices have stabilized, providing underlying support to equities despite headline-driven volatility.

Global Markets

Asian markets declined overnight. South Korea’s Kospi fell 4.6 percent to close at 6,296.38, while Japan’s Nikkei 225 lost 0.9 percent to 65,683.26. Hong Kong’s Hang Seng declined 1.5 percent to 25,530.28. Shanghai’s Composite index bucked the regional trend, climbing 0.6 percent to 3,900.35.

European markets posted modest gains. Germany’s DAX picked up 0.18 percent, France’s CAC 40 surged 0.58 percent, and Britain’s FTSE 100 added 0.08 percent, signaling cautious optimism from Western investors.

What’s Next

The Labor Department is scheduled to release the monthly employment report for July on Friday, an economic data point that could shift market direction. Investors will be watching for evidence of job growth and wage pressure, which could influence expectations for Federal Reserve policy.

Corporate earnings strength and oil price stability have supported market momentum in recent sessions, and that trend appears likely to continue if geopolitical tensions ease. The resolution of the Strait of Hormuz situation could provide additional clarity for energy markets and reduce a source of headline risk for equities.