Wall Street opened the week higher as oil prices sank following a weekend pause in US-Iran fighting, with investors bracing for a packed run of Big Tech earnings and the Federal Reserve's rate decision.
US stock futures climbed on Monday as crude oil prices tumbled and markets entered what is shaping up to be the busiest stretch of the quarter. Futures on the Dow Jones Industrial Average and the S&P 500 each rose around 0.8%, while contracts on the Nasdaq-100 jumped roughly 1.6% following a choppy prior week that had dragged the indexes lower. Sentiment improved over the weekend after the United States and Iran paused their fighting, raising hopes that peace negotiations could resume after two weeks of attacks. Oil, which had spiked above $100 a barrel earlier in the month on fears of supply disruption near the Strait of Hormuz, slid sharply, easing one of the market's main inflation worries. The week ahead is dense with catalysts: several of the largest technology companies are due to report quarterly earnings, and the Federal Reserve delivers its latest interest-rate decision midweek. Traders are weighing whether resilient corporate profits and cooling energy costs can offset the risk that the central bank leans more hawkish as it battles stubborn inflation.
Key Points
- 1Dow and S&P 500 futures rose about 0.8%, with Nasdaq-100 futures up roughly 1.6%.
- 2Oil prices fell sharply after a weekend pause in US-Iran fighting.
- 3A packed week features major Big Tech earnings and the Fed's rate decision.
- 4Falling energy costs eased a key market inflation worry.
Why This Matters
Equity moves affect retirement and investment accounts, and the combination of cooling oil, heavyweight earnings and a Fed decision will shape market direction into the second half of the year.
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