Brent crude falls 5.7% to $83.77 as Iran talks ease supply concerns, lifting equity sentiment ahead of key earnings.
U.S. stock index futures climbed early Monday as signs of easing Middle East tensions pushed Brent crude down 5.7% to $83.77 a barrel, reducing inflation fears. The two-year Treasury yield slipped four basis points to 4.291%, reflecting softer rate expectations.
Investors also focused on potential consolidation in healthcare, with reports of preliminary merger talks between Bristol Myers Squibb and AstraZeneca. The deal could create a $400 billion drugmaker, sending Bristol Myers shares up 8% in premarket trading while AstraZeneca fell 6%.
Earnings season continues, with SpaceX set to report its first quarterly results since going public. Analysts will scrutinize AI spending and Starlink profitability after shares traded below their $135 offering price.