Dow, S&P 500, Nasdaq futures mixed as oil jumps on Iran-Israel strikes
US stock futures were mixed on Monday morning after Iran attacked Israel, raising pressure on an already fragile ceasefire in the Middle East, while investors continued to reassess rate-hike expectations and the artificial intelligence-driven market rally, News.Az reports, citing Yahoo Finance.
Futures tied to the Dow Jones Industrial Average (YM=F) fell 0.3%, while S&P 500 futures (ES=F) rose 0.2% and contracts on the tech-heavy Nasdaq 100 (NQ=F) climbed 0.7%.
Markets opened the week on shaky footing after the Nasdaq Composite dropped 4% on Friday, and the S&P 500 ended its nine-week winning streak.
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A sharp rotation out of high-flying semiconductor stocks into more defensive sectors followed a stronger-than-expected May jobs report, which reinforced expectations that the Federal Reserve may maintain or raise interest rates later this year.
Oil prices surged after Iran fired missiles at Israel for the first time since April, with Israel responding despite calls for restraint. Brent crude futures climbed more than 4% to above $97 a barrel, while West Texas Intermediate (WTI) rose above $94, driven by renewed fears that tensions could escalate further in the Middle East.
Investors are now watching upcoming US inflation data closely, with the Consumer Price Index set for release on Wednesday and the Producer Price Index on Thursday. The Federal Reserve’s focus remains firmly on inflation after recent jobs data showed continued labor market strength.
Key corporate events this week include earnings from Oracle on Wednesday and a widely anticipated initial public offering linked to SpaceX expected later in the week, which could become one of the largest listings on record.
By Nijat Babayev
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