Stock futures were mixed on Thursday as equity markets tried to rebound despite renewed U.S.-Iran tensions and a jump in oil prices. S&P 500 futures were 0.3% higher, while futures tied to the Dow Jones Industrial Average traded around the flatline. Nasdaq 100 futures, on the other hand, advanced 0.9%, with semiconductor stocks outperforming. The VanEck Semiconductor ETF (SMH) climbed almost 3%, led by a 5% gain in Micron Technology. Sandisk rose more than 4%. The U.S. began launching fresh strikes on Iran in response to Tehran’s attacks on commercial shipping in and around the Strait of Hormuz, U.S. Central Command said Wednesday afternoon. U.S. Central Command later said that an additional round of strikes had been completed. However, crude futures were flat after President Donald Trump said he called Iran to make a deal. This comes after Trump said Wednesday he may no longer be interested in negotiating a deal with Iran. Prior to that, he said that the ceasefire between the U.S. and Tehran is “over” after another wave of attacks in the Middle East. “Any assumption of a swift return to normalized Persian Gulf exports is certainly being challenged,” said Mason Mendez, global real assets analyst at Wells Fargo Investment Institute. “Given the reduced supply buffer of already low global reserves and inventories, any further escalations are likely to reinforce a higher geopolitical risk premium in oil prices—even when negotiations eventually resume.” The Dow tumbled Wednesday amid the renewed tensions between Iran and the U.S. The S&P 500 also fell slightly, while semis bounced to push the Nasdaq higher. “These renewed geopolitical risks could fuel near-term risk-off sentiment; however, trends of strong equity earnings momentum and ongoing AI strengths will likely continue to drive the S&P 500 Index towards our year-end target range of 7,800 to 8,000,” said Mendez. Treasurys were steady on Thursday after the previous session’s yield spike as traders weighed new economic data and sought to look beyond the renewed hostilities in the Middle East. The key 10-year U.S. Treasury note yield—the main benchmark for mortgage borrowing, auto loans, and credit card debt—was up more than 1 basis point at 4.579%. The 2-year Treasury note yield, which is typically more sensitive to short-term Federal Reserve interest rate decisions, was down 1 basis point at 4.191%. The longer-dated 30-year Treasury bond yield, which moves in line with broader geopolitical risks, rose more than 2 basis points, holding above the key 5% level, at 5.089%. In Asia, Japan’s Nikkei 225 closed 1.4% higher, while South Korea’s Kospi rose 0.62% in choppy trade. Hong Kong’s Hang Seng index was down 0.5% in its last hour of trade on Thursday, while mainland China’s CSI 300 closed 2.5% higher. Oil prices were little changed on Thursday, after briefly spiking in response to U.S. strikes on Iran that renewed concerns about supply disruptions in the Middle East. Brent crude futures, the international benchmark, traded 53 cents higher at $78.55 per barrel. The contract settled up 5.4% in the previous session, notching its biggest daily gain since May 4. U.S. West Texas Intermediate futures, meanwhile, rose by 35 cents to $73.87. WTI advanced 4.4% on Wednesday, registering its biggest daily gain since June 1. Gold edged higher on ​Thursday on a slightly ​weaker dollar, though ​investors remained cautious, closely watching developments in the Middle East for their impact on inflation and monetary policy. Spot gold was up 0.7% at $4,105.40 per ounce after dropping to its lowest since ⁠July 1 on Wednesday. U.S. gold futures for August delivery were up 0.8% at $4,114.80. “Gold is trying to form a bottom today as dollar strength eases,” said Nikos Tzabouras, senior market ‌analyst at Tradu.com.