US stock index futures posted modest gains in Asian trading on the morning of July 20 at 11:01 AM Korean time, with the E-mini S&P 500 rising 0.02% to 7,499.25 and the E-mini Nasdaq 100 climbing 0.22% to 28,837.25, according to Yonhap Infomax. The uptick came despite weakened risk appetite following a two-day decline in major US indices last week, driven by analysis showing Chinese AI firm Moonshot's new model outperforming US competitors in some areas and escalating Middle East tensions that pushed oil prices higher. Bargain-hunting demand provided support at lower price levels even as geopolitical risks intensified, with the US Central Command launching its ninth consecutive day of airstrikes on Iran starting July 19 at 7 PM Eastern Time.
US Stock Futures Rise Modestly in Asian Trading on July 20
As of 11:01 AM Korean time on the morning of July 20, the E-mini S&P 500 futures contract stood at 7,499.25, representing a 0.02% increase from the previous session, according to data from Yonhap Infomax. The technology-heavy E-mini Nasdaq 100 index showed stronger performance, rising 0.22% to 28,837.25.
Last week Friday, the three major US stock indices fell for the second consecutive day. Semiconductor-related stocks were sold off after analysis indicated that Chinese artificial intelligence developer Moonshot's new AI model surpassed American competitors in certain areas. This development contributed to the risk-off sentiment that weighed on technology stocks.
Despite the weakened appetite for risk assets, bargain-hunting buying demand provided underlying support for index prices at lower levels, according to market observers.
US Central Command Launches Ninth Day of Iran Airstrikes
The US Central Command announced it initiated new airstrikes on Iran starting at 7 PM Eastern Time on July 19, marking the ninth consecutive day of military operations. President Donald Trump stated the military strikes were conducted to honor American soldiers who died in recent days.
On July 18, the US Central Command reported through a statement that one American soldier was killed and another injured during the controlled detonation of an unexploded ordnance from an Iranian suicide drone. On July 17, two US military personnel were killed and one went missing in Jordan while defending against Iranian attacks.
Oil Prices Surge Above Key Thresholds Amid Middle East Conflict
International oil prices jumped sharply in response to the intensifying armed conflict in the Middle East. In Asian market trading, West Texas Intermediate (WTI) crude oil futures traded at one point in the $85 range during the session. Brent crude futures broke above the $90 threshold.
Japan's financial markets were closed for the Marine Day public holiday.
FAQ
What were US stock futures prices on the morning of July 20?
As of 11:01 AM Korean time on the morning of July 20, the E-mini S&P 500 futures stood at 7,499.25, up 0.02% from the previous session, while the E-mini Nasdaq 100 rose 0.22% to 28,837.25, according to Yonhap Infomax.
Why did US stock indices fall last week?
The three major US stock indices declined for two consecutive days last week after analysis showed that Chinese AI developer Moonshot's new model outperformed American competitors in some areas, triggering selling in semiconductor-related stocks.
How many consecutive days has the US conducted airstrikes on Iran?
The US Central Command announced it launched new airstrikes on Iran starting July 19 at 7 PM Eastern Time, marking the ninth consecutive day of military operations, following the deaths of American soldiers in Iranian attacks on July 17 and July 18.
