Traders in New York saw a slight uptick in stock futures as they tried to bounce back from another tough week. Investors are closely watching oil prices and the latest updates from the ongoing U.S.-Iran conflict.
Futures for the Dow Jones Industrial Average climbed by 153 points, or 0.3%. The S&P 500 and Nasdaq-100 also rose by 0.3%. This comes after the S&P 500 experienced its third consecutive week of losses, closing at its lowest level this year. Over that week, the S&P 500 fell by 1.6%, while the Dow and Nasdaq dropped by around 2% and 1.3%, respectively.
A significant driver in the market is the recent spike in oil prices. Brent crude recently surpassed $100 per barrel for the first time since 2022. The rise in price is due to disruptions in the Strait of Hormuz, a crucial shipping lane that has faced intense scrutiny since the conflict began.
In early trading, WTI crude oil was up 1% at $100.06 a barrel, while Brent crude rose by 2.2% to $105.37. President Trump ordered strikes on Iranian military targets, though he noted that these actions won’t initially affect oil infrastructure. He suggested that if Iran continues to block traffic in the Strait, further action could be taken.
Amid these tensions, a report from the Wall Street Journal hinted that the U.S. might soon form a coalition of nations to escort ships through the Strait of Hormuz, which could alleviate some concerns in the market.
Despite geopolitical worries, the sell-off in stocks has been relatively muted. The S&P 500 is only about 5% away from its all-time high, achieved earlier this year. Ed Yardeni, an expert in market analysis, points out that analysts remain optimistic about earnings for 2026 and 2027, seemingly ignoring the potential risks from the ongoing war.
In addition to oil prices and the conflict, investors are keenly interested in developments from Nvidia’s GTC conference and the Federal Reserve’s upcoming monetary policy meeting. While no changes to interest rates are expected, any announcements could impact market sentiment in the coming days.
Overall, the current landscape is one of cautious optimism, with traders eager to gauge how these events will shape the markets moving forward.
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