Wall Street stock index futures edged higher on Friday as US President Donald Trump signaled he would give diplomacy a chance before deciding whether to strike Iran, dialing back on recent comments that suggested military action could be imminent.

Market Snapshot

At 7:50 a.m. ET, Dow E-minis were up 65 points, or 0.15%, S&P 500 E-minis were up 9.75 points, or 0.16%, and Nasdaq 100 E-minis were up 48 points, or 0.22%.

Pre-Market Movers

Tesla - Tesla rose 1.8% in premarket trading, two days before the company's expected launch of its robotaxi service. Democratic lawmakers in Texas have called for Tesla to delay the launch. Two state senators and five state representatives signed a letter addressed to Tesla's director of field quality, Eddie Gates. They asked the electric-vehicle company to delay the robotaxi launch until Sept. 1, when a new self-driving safety law is set to take effect in Texas. Tesla's tentative plan is to begin robotaxi operations in Austin on Sunday, according to CEO Elon Musk.

Crypto Stocks - Crypto stocks jumped in premarket trading. The U.S. Senate on Tuesday passed a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, in a watershed moment for the digital asset industry. Circle rose 12%; SRM Entertainment rose 6%; SharpLink Gaming rose 4%; Coinbase rose 3%; MARA Holdings, and Riot Platforms rose 2%; Strategy rose 1%.

GMS, QXO, Home Depot - Shares of GMS jumped 30% following a report from The Wall Street Journal that said Home Depot has made an offer for the building-products distributor. The exact price Home Depot privately has discussed paying for GMS couldn't be determined, the Journal said. Home Depot's bid follows a proposal from QXO to acquire the GMS for $95.20 a share. QXO said late Wednesday the proposal implies a total value of $5 billion and is a 27% premium over GMS's 60-day volume-weighted average price of $74.82. Home Depot fell 0.4% in premarket trading, while QXO rose 1.6%.

Regencell Bioscience - Regencell Bioscience shares sank another 19% in premarket trading as speculative fervor cooled. Regencell Bioscience Holdings, an early-stage, Hong Kong-based bioscience company with no revenue, is the latest speculative overseas stock to attract an unusual surge in trading demand.

CarMax - CarMax was rising 11% after the used-car retailer reported fiscal first- quarter earnings and revenue that beat analysts' estimates. Comparable-store used sales grew 8.1%.

Accenture - Accenture was down 4% after reporting fiscal third-quarter earnings that were better than expected but the consulting company said bookings had declined yet again and announced a handful of leadership changes.

Smith And Wesson Brands - Smith & Wesson Brands declined 13% after the gunmaker reported weaker-than-expected fiscal fourth-quarter adjusted earnings as revenue fell 12% to $140.8 million and missed analysts' expectations of $152.4 million. "Fourth quarter proved more difficult than we anticipated largely due to macroeconomic and industry trends," said CEO and President Mark Smith, adding the company continued to see consumers generally being cautious when buying firearms market "due to macro-economic factors pressuring discretionary spending."

Caris Life Sciences - Caris Life Sciences, a company that uses artificial-intelligence technology to help develop cancer treatments, rose 4.2% in premarket trading after rising 33% to $28 a share in their trading debut Wednesday. The initial public offering was priced at $21 a share.

Emeren - Emeren shares gained 5.4% after saying it agreed to be taken private by Shurya Vitra Ltd. at US$0.20 per ordinary share, or US$2.00 per American Depositary Share; each ADS represents 10 shares.

Market News

Trump Hints He’ll Hold Off Iran Strike, Give Diplomacy Time

US President Donald Trump signaled he would give diplomacy a chance before deciding whether to strike Iran, dialing back on recent comments that suggested military action could be imminent.

“Based on the fact that there’s a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks,” Trump said in a dictated message, according to White House spokeswoman Karoline Leavitt.

Trump, who is scheduled to attend a national security meeting in the Oval Office on Friday, has publicly mused for days about having the US increase the stakes by joining Israel’s strikes on Iran. His latest stance signals a step back after a run of tough rhetoric, including demands for residents of Tehran to evacuate, and his early departure from this week’s Group of Seven summit in Canada to return to Washington.

SoftBank Pitches $1 Trillion US AI Hub to TSMC, Trump Team

SoftBank Group Corp. founder Masayoshi Son is seeking to team up with Taiwan Semiconductor Manufacturing Co. to realize what could be his biggest bet yet — a trillion-dollar industrial complex in Arizona to build robots and artificial intelligence.

Son envisions a version of the vast manufacturing hub of China’s Shenzhen that would bring back high-tech manufacturing to the US, according to people familiar with the billionaire’s thinking. The park may comprise production lines for AI-powered industrial robots, they said, asking not to be named as the plan remains private.

SoftBank officials are keen to have the Taiwanese maker of Nvidia Corp.’s advanced AI chips play a prominent role in the project, although it’s not clear what part Son sees for TSMC, which already plans to invest $165 billion in the US and has started mass production at its first Arizona factory. Nor is it clear that TSMC would be interested. A person familiar with the chipmaker’s thinking said that SoftBank’s project has no bearing on TSMC’s plans in Phoenix.