US Futures Fall from Records

The Dow Jones Index is losing -35 points. Losses were led by Amazon (-1.28%), Home Depot (-1.08%) and P&G (-0.97%). Offsetting the fall, top gainers were Salesforce (3.24%), IBM (1.84%) and Apple (1.30%).

US stock fell on Monday, pausing the surge from last week that slingshot indices to record highs amid renewed doubts of peace prospects in the Middle East and threats to its energy supply. The S&P 500 and Nasdaq 100 dropped around 0.5% each, while the Dow fell a softer 0.3%. Iranian officials reversed Friday's signal that they would allow all vessels to cross the Strait of Hormuz, a move that would start the restoration of global energy flows and pave the way for peace with the US. The conflict was further escalated by US forces targeting an Iranian container ship, jeopardizing success for negotiators. Heavyweight tech companies were sharply lower, setting the pace for riskier assets on speculative technologies. Microsoft, Meta, Nvidia, and Oracle fell around 1.5%, and Tesla dropped nearly 3% ahead of its earnings event this week, the first among Magnificent 7 companies. Also, Intel dropped over 1% ahead of its call.

Futures tracking US equities were sharply lower on Monday, pausing the surge from last week that saw repeated record-breaking sessions as renewed doubts of peace prospects in the Middle East and threats to their energy supply. Contracts for the S&P 500, Dow, and Nasdaq 100 were around 0.5% lower. Iranian officials reversed Friday's signal that they would allow all vessels to cross the Strait of Hormuz, a move that would start the restoration of global energy flows and pave the way for peace with the US. The conflict was further escalated by US forces targeting an Iranian container ship, jeopardizing success for negotiators. Heavyweight tech companies were sharply lower pre-market, setting the pace for riskier assets on speculative technologies. Microsoft, Meta, Nvidia, and Oracle fell 1%, while Tesla and Intel dropped over 1% ahead of their earnings this week.