U.S. stock futures were mixed early Monday as investors watched the latest updates from the Middle East. Futures on the Nasdaq 100 (NDX) and the S&P 500 (SPX) Index were up 0.24% and 0.08%, respectively, while the Dow Jones Industrial Average (DJIA) futures were down 0.20% at 5:25 a.m. EDT on May 4.
Claim 55% Off TipRanks
Trade QQQ with leverageDonald Trump said in a Truth Social post on Sunday that the U.S. will launch “Project Freedom.” The plan aims to help free cargo ships from countries not involved in the Middle East conflict but affected by the Strait of Hormuz disruption. The effort is expected to begin Monday. In addition, Iran said it had received a U.S. response to its latest proposal for peace talks, indicating talks are ongoing and uncertainty remains.
At the same time, oil prices edged higher. At the time of writing, Brent crude (CM:BZ) gained 1.25% to around $109.38 per barrel, while WTI crude (CM:CL) rose 0.98% to about $102.92.
This follows a strong session on Friday. Both the S&P 500 and Nasdaq reached fresh record highs, rising 0.29% and 0.89%, respectively. However, the Dow moved the other way, falling about 0.3%.
On the earnings side, Palantir Technologies (PLTR) is set to report results today, with several other key names due later this week, including Super Micro Computer (SMCI), MicroStrategy (MSTR), Lucid Group (LCID), Advanced Micro Devices (AMD), Joby Aviation (JOBY), and BigBear.ai (BBAI).
On the economic front, the key data to watch will be the April jobs report, set to be released Friday morning at 8:30 a.m. ET.
Most major European markets started the first week of May on a cautious note as traders reacted to renewed tariff threats from U.S. President Trump and ongoing uncertainty in the Middle East.
Asia-Pacific Markets Traded Higher
Asia-Pacific markets moved higher on Monday, following record highs in the S&P 500 and Nasdaq on Friday, which supported regional tech stocks.
Hong Kong’s Hang Seng Index rose 1.24%, while Japan’s Topix gained 0.04% and the Nikkei 225 added 0.38%. In China, the Shanghai Composite edged up 0.11%, while the Shenzhen Component also posted gains.