S&P 500 futures edge higher as investors digest Iran ceasefire proposal; Dell Technologies surges 40% on AI server earnings beat

S&P 500 and Dow futures were 0.1% higher, Nasdaq futures were flat, and Russell 2000 futures were down 0.1% as of 4:00 a.m. ET Friday, following the S&P 500's fresh all-time highs on Thursday. Uncertainty surrounding Iran ceasefire negotiations—including a tentative 60-day extension proposal that awaits final approval from President Donald Trump—tempered market momentum.

Dell Technologies stock soared 40% in early premarket trade after reporting a massive Q1 earnings beat, with its AI-optimized server business accounting for over a third of total sales. Competitors Hewlett-Packard (HPE) and SuperMicro Computer (SMCI), as well as partner ServiceNow (NOW), gained in sympathy trade.

The space sector declined following a Bloomberg report that SpaceX's upcoming June IPO is targeting a valuation of $1.8 trillion (down from earlier expectations of $2 trillion) and after Blue Origin's New Glenn rocket suffered an explosion during a static-fire test. AST SpaceMobile (ASTS) led declines with an 11% drop.