U.S. stock futures fell on Monday morning as President Donald Trump ordered the blockade of the Strait of Hormuz. The move followed the failure of peace talks between the U.S. and Iran, sparking fears of a prolonged conflict in the Middle East and a spike in oil prices. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.65%, 0.63%, and 1.05%, respectively, at 8:35 a.m. EDT on April 13.
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At the time of writing, the international oil benchmark Brent (CM:BZ) rose 7.5% to $102.30 per barrel, while West Texas Intermediate (WTI) crude (CM:CL) jumped 7.8% to $102.27 per barrel.
Meanwhile, the three major indexes ended last week on a positive note, with optimism around a temporary ceasefire lifting markets. For the week, the S&P 500 and the Nasdaq Composite gained about 3.6% and 4.7%, respectively, while the Dow Jones added 3%.
This week, investors will focus on bank earnings, with Goldman Sachs (GS) kicking off the earnings season for the sector today. GS stock was down 4% in Monday’s pre-market trading even after reporting better-than-expected earnings and revenue for the first quarter of 2026, driven by solid equities trading and stronger investment banking revenues.
Moving to other trending stocks, shares of Fastenal (FAST) were down more than 3% after the industrial and construction supply distributor reported Q1 earnings in line with expectations. Meanwhile, shares of energy players Exxon Mobil (XOM), Chevron (CVX), and Phillips 66 (PSX) were trending higher in pre-market trading as oil prices climbed following the U.S. Navy’s announcement of a blockade in the Strait of Hormuz.