US pre-open: Futures higher as traders continue to focus on Middle East tensions

(Sharecast News) - Wall Street futures were in the green ahead of the bell on Monday despite the escalating conflict between Israel and Iran. As of 1230 BST, Dow Jones futures were up 0.42%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.48% and 0.61% firmer, respectively.

The Dow closed 769.83 points lower on Friday after Israel's strike on Iran, which retaliated by launching missiles at Israel.

Market participants continued to focus on developments in the Middle East as attacks continued for a fourth day, with the two nations targeting each others' energy facilities.

Iran also said it was mulling over the idea of shutting down the Strait of Hormuz, a key route for the global oil market. While oil prices initially surged following the news, benchmark Brent crude futures were down 0.50% at $73.86 per barrel as of 1230 BST, while West Texas Intermediate futures slipped 0.59% to $72.55 a barrel.

On Monday's macro slate, June's New York Empire State manufacturing index will be published at 1330 BST.

No major corporate earnings were scheduled for release on Monday.





Reporting by Iain Gilbert at Sharecast.com