Wall Street futures were mixed on Friday as markets closed out a week dominated by the ongoing U.S.-Iran deadlock, which dampened hopes for a swift resolution to the war.

Speculation around a potential second round of negotiations between Washington and Tehran failed to materialize, leaving investors uncertain about the prospects for a breakthrough. Despite widespread anticipation, no talks took place, and the timeline for future discussions remains unclear.

In a move that surprised many, U.S. President Donald Trump extended the ceasefire with Iran but kept the naval blockade of Iranian ports in place. Iran, on the other hand, retaliated by seizing ships attempting to pass through the strategically important Strait of Hormuz.

Investor fatigue may also be setting in as the conflict drags on. While Israel and Lebanon agreed to extend their ceasefire for three more weeks following a meeting brokered by President Trump, investors are waiting for stronger signs of lasting peace.

Despite the geopolitical uncertainty, corporate earnings provided a temporary boost to investor sentiment. Strong earnings reports from a number of companies offered some relief, although many investors questioned the reliability of these results, as they accounted for just one month of war-related disruptions.

As of 5:19 a.m. ET, Dow E-minis (YMcv1) were down 177 points, or 0.36%, while S&P 500 E-minis (EScv1) remained unchanged. On the positive side, Nasdaq 100 E-minis (NQcv1) rose by 162.25 points, or 0.60%.

Oil prices remain a significant source of market uncertainty. Brent crude futures (LCOc1) are still approximately 47% higher than pre-war levels due to disruptions in the vital shipping route of the Strait of Hormuz.

Despite the volatility, some analysts view the pullback in markets as a potential buying opportunity, arguing that valuations are becoming increasingly attractive.

In recent days, the S&P 500 (.SPX) and the Nasdaq Composite (.IXIC) have reached record highs, as investors remain confident in the resilience of economic fundamentals despite the ongoing conflict.

"Strong market entry points are rarely found during moments of comfort or clarity. Instead, the most attractive buying opportunities are typically associated with periods of market stress," said Jeff Schulze, head of economic and market strategy at ClearBridge Investments.

Stocks making waves in the premarket session included Intel (INTC.O), which surged by 23.3% after forecasting second-quarter revenue above analyst estimates. Rival AMD (AMD.O) also saw a strong gain of 7.3%.

Meanwhile, online education platform Coursera (COUR.N) fell 10.2% following disappointing first-quarter results.

In the tech space, DeepSeek, the Chinese AI startup that stunned the industry with its low-cost model last year, launched a preview of its new AI model adapted for Huawei chip technology.

However, U.S. stocks, which were hit hard by DeepSeek’s model last year, appeared to be holding up well. Microsoft (MSFT.O), a backer of ChatGPT, was up 0.7%, and chipmaker Marvell Technology (MRVL.O) rose 3.5%.

-Reporting by Niket Nishant in Bengaluru; Editing by Devika Syamnath/Reuters