Stock market today: Dow, S&P 500, Nasdaq futures steady after Korean stocks fall, Iran resumes attacks

US banal futures recovered a footing connected Wednesday aft Iran launched astonishment attacks against the US, lifting lipid prices, and South Korea's benchmark scale got hammered again, pointing to continued selling unit successful US spot stocks astatine the open.

S&P 500 futures (ES=F) edged up 0.2%, portion those connected the Dow Jones Industrial Average (YM=F) hovered supra the level line. Contracts for the tech-heavy Nasdaq-100 (NQ=F) were somewhat little aft investors successful Asia again dumped spot stocks similar Samsung (005930.KS) and SK Hynix (000660.KS, SKHY), driving the KOSPI Composite (^KS11) to a astir 6% loss.

SK Hynix's 2nd 4th nett roseate by 557% twelvemonth implicit year, the institution reported aft the US marketplace adjacent connected Tuesday. That was little than Wall Street expected, prompting concerns that the artificial quality roar whitethorn beryllium slowing.

Two "Magnificent Seven" net results basal arsenic the different large catalyst for the AI trade, with reports from Microsoft (MSFT) and Meta (META) dropping aft the bell. It could beryllium a make-or-break infinitesimal for tech stocks aft Alphabet's (GOOG, GOOGL) superior expenditure guidance past week spooked markets, resurfacing fears astir the AI boom's sustainability.

In the Middle East conflict, Iran launched an "attempted astonishment attack" connected Tuesday, according to US Central Command, reengaging warring betwixt the US and Iran for the archetypal clip since a intermission successful hostilities connected Friday. Oil prices jumped, with Brent crude (BZ=F) gaining implicit 3% to commercialized adjacent $85 per barrel.

The strikes travel up of the Federal Reserve's involvement complaint determination astatine 2:00 p.m. ET, a pivotal infinitesimal erstwhile the cardinal slope either holds rates dependable oregon raises them for the archetypal clip successful 3 years. Traders' expectations thin toward the Fed keeping rates unchanged, but persistently precocious ostentation and Chairman Kevin Warsh's measures to clamp down connected Fed communications person near the doorway unfastened for a hike. 

Aside from the Big Tech updates, markets volition beryllium treated to a slew of quarterly updates from consumer-facing companies, including Procter & Gamble (PG), Starbucks (SBUX), and Chipotle Mexican Grill (CMG). Investors volition besides beryllium connected the lookout for Qualcomm (QCOM) and Arm Holdings (ARM) results aft the bell.