Dow, S&P 500, Nasdaq futures edge up after oil prices slide
US stock futures edged higher on Tuesday after comments from US President Donald Trump suggesting the conflict with Iran could end soon, sending oil prices sharply lower and easing concerns about economic fallout.
Futures for the Dow Jones Industrial Average rose about 0.2% after a volatile session in which stocks rebounded to close higher, News.Az reports, citing foreign media.
Contracts tied to the S&P 500 also gained roughly 0.2%, while Nasdaq-100 futures climbed about 0.3%.
Oil prices dropped after Trump said the conflict could end “very soon,” adding that the US-Israel operation had significantly weakened Iran’s naval and air capabilities and was progressing faster than initially expected.
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At the same time, hardliners in Iran have rallied behind new leader Mojtaba Khamenei, raising doubts about a quick resolution and about Tehran easing its effective blockade on tanker traffic through the Strait of Hormuz.
Amid the mixed signals, oil prices fell around 7%, with West Texas Intermediate crude dropping to about $88 a barrel and Brent crude trading near $92.
Investors are also watching upcoming US inflation data, including February’s Consumer Price Index due Wednesday and January’s Personal Consumption Expenditures index scheduled for Friday.
On the corporate front, earnings reports from Oracle due Tuesday and Adobe expected Thursday are also in focus.
By Nijat Babayev
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