U.S. stock index futures moved lower in evening trade on Wednesday, reversing some of the market's earlier momentum after the S&P 500 and Nasdaq Composite both closed at fresh highs in the regular session. By 20:38 ET (00:38 GMT), S&P 500 Futures had slipped about 0.3% to 7,153.25 points, Nasdaq 100 Futures were down roughly 0.1% at 27,045.0 points, and Dow Jones Futures fell near 0.5% to 49,436.0 points.
During regular trading, the S&P 500 finished 1.1% higher to a record close above 7,130 points while the NASDAQ Composite gained about 1.6% to an all-time high, led by technology stocks. The Dow Jones Industrial Average advanced 0.7%. Those gains were underpinned by relief after U.S. President Donald Trump extended a ceasefire with Iran at Pakistan's request, a step that temporarily eased fears of immediate escalation.
Market sentiment shifted later in the day when Iran's Islamic Revolutionary Guard Corps seized two container ships transiting the Strait of Hormuz and fired on at least one other vessel, saying the ships had violated maritime rules and attempted to transit without authorization. The seizures were the first of their kind since the broader conflict involving the U.S. and Israel intensified earlier in the year, and traders said the episode highlighted how fragile the ceasefire remains.
The naval incident coincided with a rise in crude oil prices, which climbed above $100 per barrel following the reports of the seizures. The continued presence of a U.S. naval blockade close to the strait and uncertainty about Iran's next moves contributed to a more cautious tone in late trading.
Corporate earnings provided an offset to the geopolitical worries for some investors. Memory-chip maker Micron Technology (NASDAQ:MU) pushed to record highs, while GE Vernova (NYSE:GEV) jumped after raising its revenue outlook. Boeing Co (NYSE:BA) advanced on signs of continued aircraft demand, and Boston Scientific Corp (NYSE:BSX) gained after reporting upbeat results.
After the bell, Tesla Inc (NASDAQ:TSLA) reported mixed results. The electric-vehicle manufacturer posted revenue of about $22.4 billion, which missed expectations, while profit and free cash flow surprised to the upside. Tesla shares initially rose in after-hours trading before the move reversed.
Looking ahead, a slate of major companies is scheduled to report results on Thursday, including Honeywell International (NASDAQ:HON), American Express (NYSE:AXP), Blackstone (NYSE:BX), American Airlines (BMV:AAL), and Lockheed Martin Corporation (NYSE:LMT). These reports could influence sentiment amid the already elevated geopolitical and commodity-price risks.