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[U.S. Pre-Market] Three Major U.S. Index Futures Fall Collectively, Brent Crude Returns to $100 Mark, Gold Falls Below $4,700 Again.

TradingKeyApr 23, 2026 12:07 PM

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U.S. stock index futures declined amid U.S.-Iran tensions, paring some losses on potential negotiation progress. Iran seized two container ships in the Strait of Hormuz. Tesla shares fell despite exceeding earnings expectations, due to concerns over its robotaxi business and AI investments. ServiceNow saw a significant drop as Middle East conflict delayed large orders, and Super Micro Computer shares declined following accusations of smuggling Nvidia GPU servers to China. Oil prices initially surged. Analysts suggest a prolonged path to a long-term agreement, potentially leading to further energy price increases. Spot gold and silver also fell. Iran reported receiving transit fees and potential breakthroughs in Iran-U.S. negotiations.

AI-generated summary

TradingKey - Amid the ongoing U.S.-Iran conflict, futures for the three major U.S. stock indices continued to decline; however, they pared some losses after Iran signaled potential progress in negotiations. As of press time, Dow futures were down 0.48%, S&P 500 futures fell 0.2%, and Nasdaq 100 futures declined 0.19%.

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Earlier, Iranian media reported that the Revolutionary Guard Corps announced on Wednesday the seizure of two container ships in the Strait of Hormuz for attempting an "unauthorized" crossing. The move occurred just hours after U.S. President Trump announced an extension of the temporary ceasefire agreement with Iran.

Market Volatility

Tesla (TSLA) Shares fell more than 3% in pre-market trading. The company previously released its first-quarter earnings report, which exceeded market expectations, but Wall Street is focused on the slow pace of its robotaxi business and the projected surge in capital expenditures due to AI-related investments.

ServiceNow (NOW) The stock fell more than 14% at one point. While first-quarter revenue met expectations, the conflict in the Middle East led to delays in closing several large orders, and coupled with Wall Street's continued skepticism regarding the outlook for enterprise software in the AI era, investor sentiment has cooled significantly. IBM fell about 7% following its first-quarter earnings report.

Super Micro Computer (SMCI) Shares fell more than 12% in pre-market trading. In March, the U.S. Department of Justice filed criminal charges against Wally Liaw, co-founder and former Senior Vice President of Super Micro Computer. Personnel at the company were accused of allegedly smuggling approximately $2.5 billion worth of Nvidia GPU servers to China via Southeast Asia as a transshipment point between 2024 and 2025, in severe violation of U.S. export control regulations.

Oil prices rose, with WTI crude futures at one point surging more than 4% before retreating to $93.6 per barrel, and Brent crude futures rising nearly 4% before pulling back to $102.4 per barrel.

“The market has been optimistic throughout this conflict, hoping for a swift resolution and the normalization of energy flows through the strait, but I still believe the market will soon realize that the path to a long-term agreement remains long, and energy prices may rise further before they retreat,” said Carol Kong, currency strategist at Commonwealth Bank of Australia in Sydney.

Spot gold fell more than 1% intraday to $4,692.25 per ounce; spot silver fell more than 4% during the session to $74.28 per ounce.

Market Headlines

Iran says it has received the first installment of Strait of Hormuz transit fees. The Deputy Speaker of the Iranian Parliament stated that the first batch of revenue from Strait of Hormuz transit fees has been deposited into the central bank's account.

Preparations for Iran-U.S. negotiations may see a breakthrough. An Iranian diplomatic source told RIA Novosti on the 23rd that preparations for negotiations between Iran and the United States in Pakistan could see a breakthrough "tonight or tomorrow".

Tesla's third-generation humanoid robot is expected to debut in mid-year. According to Tesla China, Tesla's third-generation humanoid robot is expected to debut mid-year, with official production slated to begin in July or August 2026. Product testing is progressing steadily, and external application deployments are anticipated next year.

Key Data/Events Preview

The Central Bank of Russia to announce its interest rate decision on April 24

This content was translated using AI and reviewed for clarity. It is for informational purposes only.

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