US-Iran Negotiations Still Face Uncertainty, Gold Prices Break Out After Consolidation, Three Major US Stock Index Futures Erase Gains

TradingKey - At 9:30 AM ET on March 10, futures for the three major U.S. indices pared some gains after Donald Trump signaled a potential opening for truce talks. The U.S. President stated that conditional negotiations with Iran are possible, while Iran explicitly designated the "cessation of further aggression" as a prerequisite for initiating a ceasefire.

Impacted by the news, crude oil futures briefly fell below the $90 mark. Amid lingering uncertainty, gains in the three major U.S. index futures receded slightly, while gold and silver prices continued to climb following a period of consolidation, with gold rising over 2.5% and silver surging more than 6%.

The Mag 7 showed mixed performance in pre-market trading, with most stocks continuing to consolidate.

Earlier reports indicated that Samsung Electronics and SK Hynix plan to cancel a combined 20.8 trillion won (approximately $14.1 billion) in treasury shares in response to corporate governance reforms. The move is aimed at enhancing corporate governance and narrowing the "Korea Discount" by improving valuations through higher shareholder returns. The news drove the semiconductor and memory sectors higher.