5 Things to Know Before the Stock Market Opens on Thursday

• Stock futures climbed with S&P 500 futures up 0.8%, Dow futures up 0.4%, and Nasdaq 100 futures up 1.4%; markets will be closed Friday for Juneteenth
• National gas prices fell below $4 per gallon from over $4.50 a month ago, providing relief to drivers during summer travel season, though California averages remain at $5.64
• Apple CEO Tim Cook confirmed price increases are 'unavoidable' due to surging memory costs from AI spending, stating efforts to shield customers have become 'unsustainable'; Apple stock is up roughly 25% in 2026

Market Summary: Thursday Pre-Opening

Market Overview:

U.S. stock futures pointed higher Thursday morning, with S&P 500 futures up 0.8%, Dow futures ahead 0.4%, and Nasdaq 100 futures climbing 1.4%. This follows Wednesday's selloff driven by hawkish Federal Reserve signals. Markets will be closed Friday for Juneteenth.

Federal Reserve Developments:

The Fed held interest rates steady as expected, but investors reacted negatively to the possibility of future rate hikes. CME Group's FedWatch tool indicates a 70% probability of higher rates by the September meeting. New Fed Chair Kevin Warsh criticized the central bank's "old-fashioned" economic data and announced five task forces focusing on communications, balance sheet, data, productivity/jobs, and inflation.

Key Corporate News:

• Apple (AAPL): CEO Tim Cook confirmed "unavoidable" price increases due to surging memory costs driven by AI spending. Apple stock rose 0.5% premarket and is up approximately 25% in 2026.
• SpaceX (SPCX): Shares fell 5% Wednesday to around $192, marking an unusual decline for the recently public company. Stock was down another 0.5% in premarket trading.

Energy Markets:

National average gas prices fell below $4 per gallon, down from over $4.50 a month ago, providing relief to consumers during summer travel season. California averages remain elevated at $5.64, while Indiana sits at $3.39. Ongoing tensions in Iran continue affecting Strait of Hormuz shipping.

Geopolitical Developments:

A U.S.-Iran memorandum of understanding is scheduled for signing Friday in Switzerland, launching new negotiations and supporting market optimism.