Dow, Nasdaq and S&P stock futures point higher as uneasy Iran truce holds Proactive uses images sourced from Shutterstock Ahead of the bell
US stock futures rose on Monday after reports that Washington and Tehran had agreed to halt the tit-for-tat attacks that broke out over the weekend, allowing peace talks to continue.
Nasdaq 100 futures climbed 1.2%, while S&P 500 futures added 0.8%, following sharp losses for both indices last week.
The proxy for the Dow Jones Industrial Average, less exposed to technology names, put on roughly 0.4%.
Markets had entered the holiday-shortened week on edge after the US launched strikes on Iranian military targets, escalating tensions in the Middle East and reviving concerns over global energy supplies.
Oil prices rose early on but pared their gains as investors weighed the risk of further disruption to crude supplies.
Brent crude was up 0.6% at $73 a barrel, while US West Texas Intermediate traded just below $70.
The flare-up added to pressure on markets already rattled by a sell-off in technology shares, with Nvidia and Alphabet both sliding more than 8% over the week.
South Korean stocks staged a recovery, with the Kospi closing down just 0.2% after dropping as much as 3.4%.
The rebound came as Samsung Electronics (KRX:005930) and SK Hynix pledged heavy investment during a government briefing underlining the country’s commitment to AI.
The week’s highlight will be Thursday’s June jobs report, brought forward from Friday because of the Fourth of July holiday.