U.S. stock futures edged higher ahead of Monday’s session, showing a mild recovery after last week’s sharp sell-off. However, high oil prices and Middle East tensions continue to weigh on sentiment. Investors are also watching for updates from the newly announced peace talks in Pakistan. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) Index were up 0.29%, 0.19%, and 0.28%, respectively, at 2:58 a.m. EDT on March 30.
Claim 30% Off TipRanks
Trade QQQ with leverageOil prices moved higher. Brent crude (CM:BZ) rose 2.27% to $115.17 a barrel, while West Texas Intermediate (WTI) crude (CM:CL) gained 1.17% to $100.81 per barrel.
Last week was another rough one for markets. It marked the fifth straight week of losses—the longest losing streak since May 2022. The Dow fell 0.90%, the S&P 500 dropped 2.12%, and the Nasdaq-100 declined 3.20%. Both the Dow and Nasdaq are now in correction territory, while the S&P 500 is about 9% below its January peak.
The ongoing conflict in Iran has now entered its fifth week. Earlier, investors had hoped for a quick end, but now concerns are growing about its wider impact on the global economy.
Looking ahead, markets will be closed on Friday for Good Friday. However, the March jobs report will still be released that morning. Investors will also watch key labor data earlier in the week, including the JOLTS report and the ADP employment report.
On the earnings side, companies like Nike (NKE), McCormick (MKC), and Conagra Brands (CAG) are set to report results this week.