FINWIRES · TerminalLIVE
FINWIRES

Middle East Diplomacy Optimism, Oil Price Decline Lift US Equity Futures Pre-Bell

By

US equity futures were higher pre-bell Monday as the US moved toward diplomacy in its war with Iran and oil prices fell.

Dow Jones Industrial Average futures were 1.1% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 0.3% higher.

President Donald Trump said in a post Sunday on Truth Social that he had cancelled an attack on Iran. "We have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal has been agreed to," Trump said, adding that the deal would include the complete opening of the Strait of Hormuz and "an end to Iran's nuclear threat."

Palantir Technologies (PLTR) is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $0.34 per share on revenue of $1.81 billion.

Expected to report later in the week are SpaceX (SPCX), Advanced Micro Devices (AMD), Sandisk (SNDK), Western Digital (WDC), Caterpillar (CAT), ConocoPhillips (COP), Eli Lilly (LLY), Uber Technologies (UBER), and Berkshire Hathaway (BRK.A, BRK.B).

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 5.2% at $83.35 per barrel and US West Texas Intermediate crude 6.2% lower at $79.45 per barrel.

The final S&P Global manufacturing purchasing managers index for July, due at 9:45 am ET, is seen at 53.8, unchanged from its prior value, according to estimates compiled by Bloomberg.

The July Institute for Supply Management's manufacturing index, due at 10 am ET, is projected at 53.9, up from 53.3 in the previous month. The June construction spending report is also due at 10 am ET.

Related Articles

Japan

US Equity Markets End Higher on Amazon's Profit Surge, Communications Services Rally

US equity indexes ended higher Friday after Amazon.com's (AMZN) Q2 profit soared and the communication-services sector rallied.* Amazon's shares rose 15%, the top gainer on the S&P 500, a day after the e-commerce giant's Q2 results topped Wall Street's estimates on cloud-computing business strength.* A University of Michigan survey showed respondents expect a 4.2% inflation rate over the next year, down from 4.6% in June, and 3.3% annual inflation over the next five years.* The University of Michigan consumer sentiment index was revised upward to 55.2 for July from 54.4 in the preliminary estimate, compared with expectations for a downward revision to 54.0 in a survey compiled by Bloomberg.* The quarterly US employment cost index rose by 0.9% in Q2, in line with the previous quarter, the US Bureau of Labor Statistics reported. That topped the consensus estimate of a 0.8% gain in a Bloomberg survey.* September West Texas Intermediate crude oil rose $1.20 to settle at $84.79 per barrel, while September Brent crude, the global benchmark, was last seen up $1.06 at $90.09.* Apple (AAPL) shares fell 7.4%, the biggest drop on the Nasdaq, a day after the company missed market estimates for iPad and services revenue in fiscal Q3.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN
Japan

Update: US Equity Indexes Rise Amid Amazon-Fueled Gains in Consumer Discretionary While Crude Oil Trades Off Session Highs

(Updates with index/price moves, macroeconomic data and geopolitical news from the first paragraph.)US equity indexes rose following a lift by standout gainers consumer discretionary and communication services, and as President Donald Trump signaled an agreement between Israel and militant group Hamas.The Nasdaq Composite rose 1.1% to 25,396.2, with the S&P 500 up 0.8% to 7,499.1 and the Dow Jones Industrial Average higher by 0.7% to 52,590.6 ahead of Friday's close.Consumer discretionary catapulted 6%, and communication services soared 4.3%, outweighing a retreat led by materials in the final leg of trading.Amazon's (AMZN) web services cloud-computing unit reported overnight the fastest sales growth in 18 quarters, helping the e-commerce giant handily exceed market expectations for Q2 earnings and revenue. Shares soared 15%, the top gainer on the S&P 500, the Nasdaq, and the Dow, even as the retailer expanded its full-year 2026 capital expenditure guidance by about $20 billion to $220 billion.Apple (APPL), meanwhile, sank 8.4%, among the worst performers on the S&P 500, the Nasdaq, and the Dow. The company missed market estimates for iPad and services revenue overnight in fiscal Q3, after recently raising prices for MacBooks and iPads amid surging memory and storage chip costs.In geopolitical news, President Donald Trump said the US has an "understanding" with Israel to start implementing an agreement in Gaza that would require Israeli forces to withdraw and Hamas to give up its weapons, a critical step in implementing a multi-phase peace plan to end the war, according to CNN.A senior Hamas official told CNN that the militant group had agreed to the deal with the US-backed Board of Peace, contingent on Israel upholding its obligations. Hamas has never before agreed to a specific plan to hand over its weapons, according to CNN.The front-month US West Texas Intermediate crude oil climbed 1.2% to $84.63 a barrel, and global benchmark North Sea Brent advanced 1.2% to $90.12 a barrel. Both crude types traded off their respective session highs.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN
Japan

Amazon Overperformance Lifts US Equity Futures Pre-Bell Amid Potential Expansion of Mid-East Conflict to Egypt

US equity futures were higher pre-bell Friday as tech stocks, led by Amazon (AMZN), were on the upswing, amid a potential expansion of the Middle East conflict to include Egypt.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 1.1% higher.Amazon stock was up 11% in premarket activity after the tech giant reported better-than-expected Q2 results that highlighted the strength of its cloud-computing business.Egypt reported that a drone strike hit two vessels at the port of Damietta on Wednesday. No party has claimed responsibility for that attack, which is the first one in the country's territory since the war between the US and Iran began in late February.Iran said it attacked US assets in Kuwait and Bahrain after the recent wave of US strikes this week, CNBC reported Friday, citing state media.Traders digested the latest round of earnings, with Exxon Mobil (XOM) posting higher Q2 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $88.38 per barrel and US West Texas Intermediate crude 1.5% higher at $84.85 per barrel.The Chicago purchasing managers index for July, due at 9:45 am ET, is seen coming in at 56.0, down from its prior value of 56.7, according to estimates compiled by Bloomberg.The final University of Michigan consumer sentiment report for July, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 54.0, down from 54.4 in the prior period.

Dow JonesNasdaq CompositeS&P 500$AMZN$XOM