U.S. stock futures were higher on Monday night as oil prices eased from earlier gains and investor sentiment improved. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) Index were up 0.65%, 0.84%, and 0.79%, respectively, at 1:00 a.m. EDT on March 31.
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The mood shifted as investors began to price in a possible de-escalation. Hopes for talks between the U.S. and a “more reasonable” leadership in Iran eased some concerns. At the same time, Treasury Secretary Scott Bessent said oil supply remains stable and the U.S. can protect key shipping routes, which helped calm markets.
Brent crude (CM:BZ) fell 1.27% to $111.35 a barrel, while West Texas Intermediate (WTI) crude (CM:CL) slipped 1.07% to $101.78 per barrel.
During Monday’s regular trading session, stocks were mixed. The S&P 500 fell 0.39%, marking its third straight day of losses. The Nasdaq Composite also declined, dropping 0.73%. However, the Dow managed to edge higher, gaining 49.50 points, or 0.11%.
Investors also got some relief from Federal Reserve Chair Jerome Powell. He said inflation appears to be under control for now, and there is no immediate need to raise interest rates.
Looking ahead, traders will focus on new economic data on Tuesday. This includes the consumer confidence index for March and the JOLTS job openings report for February.