US Futures Climb Ahead of Peace Talks

US stock futures rose on Monday following reports that Washington and Tehran have agreed to halt attacks against each other before peace talks resume in Doha this week. The conflict had escalated since Thursday, with Iran targeting a container ship, a vessel carrying Qatari oil, and military bases in Kuwait and Bahrain, triggering multiple retaliatory US strikes. Meanwhile, Wall Street is coming off a mixed week as investors rotated out of technology stocks and into other sectors. The S&P 500 and Nasdaq Composite fell 1.95% and 4.6%, respectively, last week, while the Dow gained 0.6%. Megacap technology stocks led the declines, with Nvidia and Alphabet each dropping more than 8%, while Apple, Amazon, and Meta lost over 4% apiece. SpaceX also plunged 17%, erasing nearly all of its gains since its market debut on June 12.

The Dow Jones Index dropped 45 points or 0.09 percent on Friday to close at 51876 points. Losses were led by Caterpillar (-5.67%), Cisco Systems (-4.56%) and Goldman Sachs (-4.07%). Offsetting the fall, top gainers were Microsoft (5.71%), Salesforce (5.45%) and IBM (5.08%).

US stock indexes closed lower on Friday, with the S&P 500 inching down 0.05%, the Nasdaq 100 losing 1.1%, and the Dow Jones slipping 44 points. Chipmakers led the declines as investors trimmed positions after Thursday’s rally, which had been fueled by strong guidance from Micron. Its shares fell 6.7%, while peers Nvidia (-1.6%) and Broadcom (-3.7%) also moved lower. The Dow traded more in line with its tech-heavy counterparts after Alphabet (-2.2%) replaced Verizon in the index, though it still ended near record highs. Broader losses were pared as lower oil prices eased inflation concerns, after evidence that tankers continued crossing the Strait of Hormuz improved the supply outlook for Middle Eastern energy and reduced fears of multiple Federal Reserve rate hikes this year. Still, sentiment remained cautious after President Donald Trump accused Iran of violating the ceasefire agreement by firing at cargo ships transiting the Strait, highlighting the fragility of the truce.