U.S. stock futures were steady ahead of Monday’s trading session, as investors weighed ongoing concerns about the U.S.–Iran conflict against reports of a possible 45-day ceasefire. While futures opened lower on Sunday night, markets are now in a wait-and-see phase as the Tuesday deadline for reopening the Strait of Hormuz approaches.
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On Sunday, President Donald Trump warned that the U.S. could strike Iran’s power plants and bridges if the Strait of Hormuz is not reopened by Tuesday. This raised concerns about possible supply disruptions in the global oil market.
Crude prices moved slightly lower at the start of the week. Brent crude (CM:BZ) fell 0.04% to $109.07 per barrel, while West Texas Intermediate (WTI) crude (CM:CL) slipped 0.82% to $110.62 per barrel.
Wall Street wrapped up a strong week. The S&P 500 jumped nearly 6%, ending a five-week losing streak and posting its best weekly performance since late November. Meanwhile, the Dow gained about 3% for the week, and the Nasdaq climbed 4.4%, with both indexes also snapping their recent losing runs.
On the earnings side, companies like Delta Air Lines (DAL), Constellation Brands (STZ), and BlackRock (BLK) are set to report results this week.