US stock futures diverged in premarket trading on Friday as investors awaited SK Hynix's (000660.KS) US listing, viewed as a test for the AI trade, and monitored traffic through the Strait of Hormuz.
Futures on the Dow Jones Industrial Average (YM=F) gained 0.2%, while those on the S&P 500 (ES=F) were roughly flat. Contracts for the tech-heavy Nasdaq 100 (NQ=F) fell 0.2% following a winning day on Wall Street.
Chip stocks fell in premarket trading ahead of SK Hynix's Nasdaq debut, expected to be the day's main event. The South Korean memory chip maker and Nvidia (NVDA) supplier raised $26.5 billion in its US share offering, making its US listing the largest ever by a foreign company.
Meanwhile, oil prices rose slightly as investors continued to watch developments in the Middle East after the US and Iran launched their heaviest attacks since the ceasefire agreement was signed. West Texas Intermediate crude futures (CL=F) hovered near $72 a barrel, while Brent crude (BZ=F), the international benchmark, traded above $76 a barrel as traffic through the Strait of Hormuz slowed again.
In corporate news, Delta Air Lines (DAL) stock fell after the airline reported substantial fuel costs in the second quarter, offset by its premium business. The air carrier beat Wall Street's earnings estimates and reinstated its full-year guidance.
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