S&P Futures Flat

S&P 500 futures were little changed on Thursday as traders caught their breath after a strong performance in the previous session and kept an eye on oil rising prices.

Futures for the Dow Jones Industrials slid 162 points, or 0.3%, to 48,634.

Futures for the broader market index lost 7.75 points, or 0.1%, to 6,870.50

Futures for the NASDAQ dropped 29.5 points, or 0.1%. to 25,100.75.

Stocks rose in Wednesday’s session, buoyed by gains in technology and semiconductor giants. The Dow snapped a three-day losing run. The S&P 500 and NASDAQ Composite ended the day with solid gains.

Fears of disruption to regional oil and gas supplies subsided after President Donald Trump said on Tuesday that the U.S. is preparing to provide risk insurance and escorts to ships in the Persian Gulf in an effort to ensure traffic can move through the Strait of Hormuz.

To be sure, the White House would not provide a timeline for when the strait, which is responsible for roughly 20% of the world’s oil supply, will be safe for oil tankers.

In Japan, the Nikkei 225 spiked 1.9%, while in Hong Kong, the Hang Seng eked higher 0.3%.

Oil prices gained $2.08 to $76.74 U.S. a barrel.

Gold prices jumped $42.60 to $5,111.70 U.S an ounce.