# S&P 500 and Nasdaq futures traded near all-time highs on Thursday.

*business · news · 2026-05-07 · MarketScreener*

## Key points

- U.S. and Iran are nearing a temporary agreement to reopen the Strait of Hormuz.
- Oil prices have dropped below $100 a barrel on expectations of a U.S.-Iran peace deal.
- Traders now expect the Federal Reserve to hold rates steady for the rest of 2024.
- Arm Holdings shares fell 8.8% due to concerns over AI chip supply despite strong earnings.
- Whirlpool suspended its dividend and missed first-quarter sales estimates, causing shares to slump 17.8%.

**Companies:** Arm Holdings, Whirlpool
**Countries:** United States, Iran

[Read the full story on MarketScreener](https://www.marketscreener.com/news/s-p-500-nasdaq-futures-touch-record-highs-as-oil-extends-losses-ce7f58d3dc81f326)

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