Stock futures rallied early Monday as oil prices declined amid a pause in U.S.-Iran tensions over the weekend. Traders are also eyeing a busy week of major earnings reports and a potentially surprising Federal Reserve meeting.
Dow Jones Industrial Average futures increased by 550 points, or 1.1%. S&P 500 futures rose 0.9%, while Nasdaq-100 futures advanced 1.4%.
International Brent crude futures for September delivery dropped 7.7% to around $89.41 a barrel, and U.S. West Texas Intermediate crude futures fell over 6.3% to $83.21 a barrel, reflecting easing tensions in the Middle East.
Meanwhile, tensions escalated elsewhere after Ukraine struck an Iranian commercial vessel in the Caspian Sea, prompting Tehran to accuse Kyiv of a “hostile and criminal act.”
This week promises significant market volatility as major tech giants like Amazon, Apple, Meta Platforms, and Microsoft prepare to report quarterly results.
These earnings will be closely watched for signs of AI spending trends, especially after Alphabet’s recent disappointing results. The reports could also impact semiconductor stocks, which are key beneficiaries of the ongoing AI boom.
Source (CNBC)
