Wall Street Set for Softer Open as Oil Spike and Middle East Tensions Weigh on Sentiment: Dow Jones, S&P, Nasdaq, Futures Futures Point Lower Ahead of Monday’s Session U.S. stock futures indicated a weaker start to Monday’s trading, with investors expected to take some profits…
ter last week’s strong gains as geopolitical tensions and rising oil prices weighed on market sentiment. The latest pressure comes after renewed military exchanges between the United States and Iran intensified concerns about global energy supplies and broader economic risks
Oil Prices Jump Following Fresh Military Action Crude oil prices surged after the U.S. Central Command confirmed it had carried out another round of precision strikes against multiple Iranian targets on Sunday. Iran responded with attacks targeting several Gulf nations, including Bahrain, Kuwait, Qatar, Jordan and Oman, adding further strain to an already fragile ceasefire.
Conflicting statements from Washington and Tehran over the operational status of the Strait of Hormuz also fuelled uncertainty, helping push U.S. crude futures more than 4% higher. Chip Stocks Add Pressure Technology shares were also expected to face headwinds after a sharp decline in SK Hynix (USOTC:HXSCL). The South Korean memory chipmaker’s U.S.-listed shares dropped more than 9% in premarket trading after soaring more than 13% during their Nasdaq debut last Friday, creating fresh pressure across the semiconductor sector.