U.S. stock futures fell on Tuesday morning as oil prices moved higher, recovering from yesterday’s decline following President Donald Trump’s comments on “productive conversations” with Iran that eased geopolitical tensions. Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.26%, 0.26%, and 0.25%, respectively, at 8:30 a.m. EDT on March 24.
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At the time of writing, the international oil benchmark Brent (CM:BZ) was up 2.98% to $102.92 per barrel, while West Texas Intermediate (WTI) crude (CM:CL) moved higher by 4.11% to $91.75 per barrel.
During Monday’s regular trading, the three major indexes closed higher amid renewed hopes for an imminent resolution to the U.S.-Iran standoff. The Dow Jones and the Nasdaq Composite each gained 1.38%, while the S&P 500 surged 1.15%.
Turning to trending stocks, shares of Netgear (NTGR), a maker of WiFi routers and network switches, jumped more than 11% in Tuesday’s pre-market trading after the Federal Communications Commission (FCC) banned all imports of consumer routers made abroad, citing national security risks.
Meanwhile, CoreWeave (CRWV) stock rose about 2% after Bank of America reinstated coverage of the AI cloud company and upgraded its rating to Buy from Hold, as it believes that the company is well-positioned to capture a share of the $79 billion AI infrastructure as a service (IaaS) market.