US Pre-Market 27 July 2026: Futures Rise as Brent Falls 6.73% on a US-Iran Strike Pause

Sentiment: bullish S&P 500 futures: +0.83%

S&P 500 futures trade at 7,509.00 (+0.83%) and Nasdaq 100 futures at 28,650.75 (+1.30%) ahead of the 27 July 2026 US open, after Washington and Tehran paused retaliatory strikes over the weekend and reversed part of July's run-up in crude. Brent fell 6.73% to US$90.27 and WTI 5.90% to US$84.04, pulling oil producers lower before the bell while airlines gained on cheaper fuel. FBRX.US is the largest single-name move at +39.58%, on an agreed $2.2 billion cash takeover by Argenx.

Overnight drivers

• Crude reversal: Brent -6.73% to US$90.27, WTI -5.90% to US$84.04, after the US and Iran paused strikes to give negotiations room. Producers followed the contracts down: APA.US -4.09%, FANG.US -3.55%, DVN.US -3.53%, COP.US -3.45%, OXY.US -3.44%, XOM.US -3.28%.
• Airline fuel costs: AAL.US +3.97%, LUV.US +3.61%, UAL.US +3.53%, DAL.US +2.76% pre-market as jet fuel tracks crude lower.
• Semiconductor bounce: MRVL.US +3.14%, MCHP.US +2.68%, AMD.US +2.19%, AVGO.US +2.14%, recovering part of a Friday decline that took MRVL.US down 7.21% and INTC.US down 7.89%.
• Memory: SNDK.US +2.73% and MU.US +1.50% after Chinese memory maker CXMT closed its Shanghai trading debut more than 466% above its issue price.
• Rates and volatility: the 10-year Treasury yield eased to 4.65% from 4.68%, VIX 17.88 (-3.76%), and the dollar index 101.38 (-0.09%).

Overnight Asia and Europe

The S&P/ASX 200 closed at 8,894.00 on 27 July 2026, up 1.39%, the largest gain among major Asia-Pacific benchmarks as crude fell.

• Nikkei 225: 64,931.19 (+0.50%)
• Hang Seng: 25,207.18 (+0.98%)
• Shanghai Composite: 3,858.24 (+1.15%)
• KOSPI: 6,755.75 (+0.97%)

DAX 25,488.63 (+1.55%) leads Europe as at 8:38am ET, with CAC 40 8,437.93 (+0.78%), STOXX 600 649.33 (+0.75%) and FTSE 100 10,786.03 (+0.46%) behind it.

Pre-market movers

FBRX.US trades at US$76.46 in the pre-market on 27 July 2026, up 39.58% from Friday's US$54.78 close.

• FBRX.US +39.58%. Argenx agreed to buy the biotech for $2.2 billion in cash at $77 per share, a 40% premium to Friday's close, with completion expected in the third quarter. ARGX.US -1.34%.
• BKR.US +3.21% after second-quarter earnings and revenue came in above consensus, with management guiding to the midpoint of its full-year range.
• AAL.US +3.97% heads the airlines. LUV.US +3.61%, UAL.US +3.53% and DAL.US +2.76% follow.
• APA.US -4.09% is the weakest of the large producers, ahead of FANG.US -3.55% and DVN.US -3.53%.
• AMKR.US +1.65% before results due after the close.

MSFT.US +1.65%, META.US +1.87%, AMZN.US +1.34% and AAPL.US +0.33% all trade higher ahead of their own results this week.

The Dow finished Friday at 51,947.25 (+0.46%), the S&P 500 at 7,411.98 (+0.05%), the Nasdaq Composite at 24,975.82 (-0.64%) and the Russell 2000 at 2,930.00 (-0.35%).

US economic calendar today (ET)

• 8:30am: durable goods orders for June rose 1.6% on the month, matching consensus, after a 4.5% fall in May.
• 10:30am: Dallas Fed manufacturing index for July, consensus -12.0 against -15.1 prior.
• 1:00pm: two-year and five-year Treasury note auctions, last cleared at 4.189% and 4.200%.

What to watch

• The FOMC decision is due at 2:00pm ET on Wednesday 29 July, with Chair Kevin Warsh's press conference at 2:30pm. The June meeting held the target range at 3.50% to 3.75%, and the June minutes showed the committee divided on whether to raise rates before the end of 2026. A 6% fall in crude lands two days before that decision.
• MSFT.US and META.US report after the close on Wednesday 29 July. AAPL.US and AMZN.US follow on Thursday 30 July.
• Second-quarter GDP arrives on Thursday 30 July, the June PCE price index on Friday 31 July.

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