US pre-open: Futures higher on easing crude prices, lull in Middle East tensions

(Sharecast News) - Wall Street futures pushed higher ahead of the open on Monday as oil prices retreated, helped by a weekend pause in hostilities between the US and Iran. As of 1220 BST, Dow Jones futures were up 1.13%, while S&P 500 and Nasdaq-100 futures the indices opening 0.99% and 1.56% firmer, respectively.

The Dow closed 235.60 points higher on Friday as US stocks stabilised after a big sell-off the previous session.

As for Monday, futures head south as Brent crude for September delivery slid 7.72% to $89.31 a barrel, while West Texas Intermediate dropped 6.71% to $83.32, easing some of the pressure that had built during recent geopolitical flare‑ups.

Tensions elsewhere remained elevated, however, after Ukraine struck an Iranian commercial vessel in the Caspian Sea, prompting Tehran to accuse Kyiv of a "hostile and criminal act".

On the macro front, June durable goods orders data will be published at 1330 BST, while the Dallas Federal Reserve's July manufacturing index will follow at 1530 BST.

No major corporate earnings were slated for release on Monday, but traders will be getting ready for megacap tech names Amazon, Apple, Meta Platforms and Microsoft to report earnings before the week is out.





Reporting by Iain Gilbert at Sharecast.com