U.S. stock futures were slightly higher ahead of Monday’s session as investors looked for a rebound after another losing week. Traders are watching oil prices and the latest news from the U.S.– Iran war. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were up by 0.47%, 0.26%, and 0.43%, respectively, at 3:52 a.m. EST on March 16.
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Trade QQQ with leverageThe gains come after a rough week for stocks. The S&P 500 fell for the third week in a row and closed Friday at its lowest level this year. For the week, the S&P 500 dropped 1.6%, while the Dow lost about 2% and the Nasdaq fell 1.3%.
At the time of writing, Brent crude (CM:BZ) is up 2.93% to $106.23 a barrel, while West Texas Intermediate crude is up 2.11% at $100.82 a barrel.
Oil prices jumped last week after the war disrupted traffic in the Strait of Hormuz, a key route for global oil shipments. Brent crude closed above $100 a barrel for the first time since 2022.
Meanwhile, tensions in the region remain high. President Donald Trump said the U.S. could target Iran’s oil facilities if Tehran continues to block the Strait of Hormuz. He also told NBC over the weekend that Iran wants a deal, though he is not ready yet. A Wall Street Journal report also said the U.S. plans to soon announce a group of countries that will escort ships through the Strait.
Investors will also watch Nvidia (NVDA) as the company begins its GTC conference Monday. The Federal Reserve will hold its next policy meeting this week, though markets do not expect any change in interest rates.