Dow, S&P 500, Nasdaq futures surge amid oil price spike
U.S. stock futures moved higher early Monday as markets attempted to stabilize after another difficult week for equities, while investors closely monitored the sharp rise in oil prices driven by the ongoing conflict between the U.S. and Iran.
Futures tied to the Dow Jones Industrial Average rose about 0.2%. Meanwhile, futures for the S&P 500 and the Nasdaq-100 each gained roughly 0.4%, News.Az reports, citing foreign media.
The cautious start to the week follows a third consecutive weekly decline for the S&P 500, which ended Friday at its lowest level of the year and its weakest point since November.
Oil prices continued climbing as the war involving the U.S. and Iran disrupted shipping through the Strait of Hormuz. Recent U.S. strikes on Kharg Island—Iran’s primary crude export terminal—have intensified concerns about supply disruptions, while Tehran has warned of possible retaliatory attacks on U.S. energy facilities in the region.
Futures for both U.S. and global crude benchmarks rose above $100 per barrel in early Monday trading for the first time since 2022. West Texas Intermediate crude climbed nearly 2% to remain above that level, while Brent crude gained almost 3%, approaching $106 per barrel.
Investors will also be monitoring key corporate and policy developments during the week. Nvidia begins its annual GTC conference on Monday, featuring a keynote address by CEO Jensen Huang.
Meanwhile, the Federal Reserve is scheduled to hold its second policy meeting of the year. Markets broadly expect the central bank to keep interest rates unchanged.
By Nijat Babayev
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