Stock Market Today: S&P 500, Nasdaq 100, Dow Jones Futures Rise as US-Iran Exchange Strikes

U.S. stock futures advanced on Thursday, as the Dow Jones, Nasdaq 100, and S&P 500 indices rose, following Wednesday’s mixed close.

Investor sentiment was supported by a resilient labor market as initial jobless claims ticked down to 215,000 for the week ending July 4. The slight decline from the previous week's revised 217,000 underscores a steady and mature economic expansion, giving the Federal Reserve more breathing room on monetary policy.

After President ​Donald Trump declared that the Iran ceasefire was “over,” the U.S. military launched additional strikes on Iran aimed at weakening Tehran’s ability to threaten commercial shipping through the Strait of Hormuz. Iran responded with strikes against U.S. bases in Kuwait and Bahrain.

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf doubled down on claims about Tehran controlling the Strait of Hormuz and said the U.S. still has not learned that "bullying" and going back on commitments are no longer without consequences.

Meanwhile, the 10-year Treasury bond yielded 4.56%, and the two-year bond was at 4.19%. The CME Group’s FedWatch tool’s projections show markets pricing a 72.7% likelihood of the Federal Reserve leaving the current interest rates unchanged during July’s meeting.

The SPDR S&P 500 ETF Trust (NYSE: SPY) and Invesco QQQ Trust ETF (NASDAQ: QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Thursday. The SPY was up 0.31% at $747.74, while the QQQ advanced by 0.98% to $718.38.