Stock Market News Live: Stocks set to rise as U.S.-Iran military conflict fears recede

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Wall Street continued to monitor developments in U.S.-Iran relations Thursday, following signs that the Trump administration would respond to this week’s Iranian missile attacks with sanctions rather than military action.

7:30 a.m. ET: Stock futures extend gains as U.S.-Iran fears wane

Stocks pointed to a higher open Thursday, a day after jumping to new highs after President Trump momentarily tempered fears of an armed confrontation with Iran.

Gold prices further pared last week’s gains, dropping below $1,550 per ounce. West Texas intermediate and Brent crude oil prices were little changed.

Adding to the relief rally were comments from China confirming that Vice Premier Liu He would travel to the U.S. from Jan. 13 to 15 to sign a previously announced phase one trade deal with the Trump administration.

Here were the main moves during the pre-market session, as of 7:30 a.m. ET:

  • S&P futures (ES=F): 3,272.25, up 12 points or 0.37%

  • Dow futures (YM=F): 28,880, up 110 points or 0.38%

  • Nasdaq futures (NQ=F): 8,990.75, up 46.25 points or 0.52%

  • Crude oil (CL=F): $59.73 per barrel, up $0.12 or 0.2%

  • Gold (GC=F): $1,547.70 per ounce, down $12.50 or 0.8%

President Donald Trump delivers a statement about Iran flanked by U.S. Defense Secretary Mark Esper, Army Chief of Staff General James McConville and Chairman of the Joint Chiefs of Staff Army General Mark Milley in the Grand Foyer at the White House in Washington, U.S., January 8, 2020. REUTERS/Kevin Lamarque

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