US pre-open: Futures lower as Iran pushes back on US proposal
By Iain Gilbert
Date: Thursday 26 Mar 2026
(Sharecast News) - Wall Street futures were in the red ahead of the bell on Thursday as market participants remained zeroed-in on Middle East developments.
As of 1200 GMT, Dow Jones futures were down 0.77%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.85% and 1.03% softer, respectively.
The Dow closed 305.43 points higher on Wednesday as investors adopted a cautiously optimistic view that the US/Israel-Iran war might soon come to a close amid efforts by Washington to negotiate terms of a ceasefire.
The US/Israel-Iran conflict remained very much in focus early on Thursday after Iranian foreign minister Abbas Araghchi said senior officials were reviewing a US proposal to end the war, but reiterated that Tehran had no intention of entering into direct talks with Washington.
State media had previously reported that Iran would reject a 15-point US ceasefire proposal and instead put forward its own five‑point plan, which includes granting Iran control over the Strait of Hormuz.
Oil prices were higher prior to the open, with benchmark Brent crude up 2.77% at $105.05 per barrel and West Texas Intermediate 3.02% higher at $93.05 a barrel.
On the macro front, weekly jobless claims data from the Labor Department will be released at 1230 GMT, while the Kansas Federal Reserve's March manufacturing activity index was slated for release at 1500 GMT.
No major corporate earnings were slated for release on Thursday.
Reporting by Iain Gilbert at Sharecast.com
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