US pre-open: Futures little changed after Trump rejects Iran's latest proposal to end conflict

(Sharecast News) - Wall Street futures were little changed ahead of the bell on Monday after Donald Trump rejected Iran's latest proposal to end their conflict. As of 1245 BST, Dow Jones and S&P 500 futures were down 0.12% and 0.06%, respectively, while Nasdaq-100 futures had the index opening 0.02% firmer.

The Dow closed just 12.19 points higher on Friday following April's non‑farm payrolls report, which showed the US economy had added 115,000 jobs in April - comfortably ahead of the 63,000 expected.

Futures were broadly flat after Iran submitted a new proposal to US negotiators aimed at ending the months‑long conflict, with the counteroffer calling for a halt to fighting on all fronts and the lifting of sanctions on Tehran, according to Tasnim.

However, Trump dismissed the response in a social media post, calling it "TOTALLY UNACCEPTABLE!". Oil futures rose in overnight trading following his comments, with West Texas Intermediate up 2.64% at $97.94 a barrel, while international benchmark Brent crude was changing hands at $103.94 a barrel - up 2.62%.

Fears regarding a prolonged conflict in the Middle East also grew after Israel's Benjamin Netanyahu said its conflict with Iran was "not over".

On the macro front, April existing home sales figures will be published at 1500 BST.

No major corporate earnings were slated for release on Friday.



Reporting by Iain Gilbert at Sharecast.com