U.S. stock futures trended higher on Monday morning, starting the holiday-shortened trading week on a positive note after major indices closed in the red last week. The rise comes even as the U.S.-Iran war has intensified, entering its fifth week. Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.51%, 0.54%, and 0.55%, respectively, at 8:14 a.m. EDT on March 30.
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Trade QQQ with leverageAt the time of writing, the international oil benchmark Brent (CM:BZ) was up 1.98% to $114.77 per barrel, while West Texas Intermediate (WTI) crude (CM:CL) rose 1.33% to trade at $100.95 per barrel.
Markets took another beating last week, marking the fifth straight decline. The Dow Jones and S&P 500 shed 0.90% and 2.12%, respectively, while the Nasdaq Composite tumbled 3.20% last week. Both the Dow and Nasdaq Composite are now in correction territory, with the S&P 500 down about 9% from its January high.
Turning to trending stocks, shares of aluminum company Alcoa (AA) jumped more than 9% in Monday’s pre-market trading as aluminum prices rose over 4.5% after critical infrastructure for the metal in the Middle East was attacked by Iranian missile strikes. Meanwhile, Sysco (SYY) stock fell about 6% after the wholesale food distributor announced the acquisition of Jetro Restaurant Depot for an overall enterprise value of $29.1 billion.
In contrast, Rocket Lab (RKLB) stock rose about 2% in Monday’s pre-market trading, as the space launch service provider announced the completion of its first dedicated launch for the European Space Agency (ESA).