FINWIRES · TerminalLIVE
FINWIRES

US Equity Futures Fall Pre-Bell as Middle East Peace Talks Remain Stalled, Iran Reportedly Floats New Peace Offer

By

US equity futures were marginally lower pre-bell Monday amid reports of Iran's new proposal to reopen the Strait of Hormuz against the backdrop of stalled US-Iran negotiations.

Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% higher.

Iran has sent the US a new proposal to reopen the Strait of Hormuz and end the conflict, with nuclear talks deferred to a later date, according to an Axios report citing a US official and two other sources.

President Donald Trump cancelled the trip of US special envoy Steve Witkoff and Jared Kushner to Pakistan for negotiations with Iran, saying, "If they want to talk, all they have to do is call!" according to a post on Truth Social on Sunday.

Earnings kicked off for the week, with Verizon Communications (VZ) posting higher Q1 adjusted earnings and revenue.

Among the companies expected to report quarterly earnings this week are Visa (V), Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), Meta Platforms (META), Apple (AAPL), and Berkshire Hathaway (BRK.A, BRK.B).

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.8% at $100.86 per barrel and US West Texas Intermediate crude 1.7% higher at $96.05 per barrel.

The Dallas Federal Reserve's manufacturing reading will be released at 10:30 am ET.

The policy-setting Federal Open Market Committee is scheduled to release a statement 2 pm ET on Wednesday.

In other world markets, Japan's Nikkei closed 1.4% higher, Hong Kong's Hang Seng ended 0.2% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.

In equities, Qualcomm (QCOM) shares were up 9.4% after industry checks suggested that Microsoft-backed OpenAI is working with the semiconductor company and MediaTek to develop smartphone processors, according to a TF International Securities analyst. Verizon Communications stock was up 3% after the company reported its Q1 financial results.

On the losing side, Domino's Pizza (DPZ) shares were down 7.4% after the company posted fiscal Q1 earnings and revenue that fell short of analysts' estimates.

Related Articles

Asia Markets

Saudi Shares Start Week Higher; US-Iran Peace Talks Canceled

The Tadawul All Share Index closed Sunday 0.11% higher as investors assessed the latest updates regarding the conflict in the Middle East.US President Donald Trump said on his Truth Social account that the Pakistani trip for his envoys, Steve Witkoff and Jared Kushner, was canceled. The announcement dimmed the hopes for peace talks between Iran and the US to happen any time soon.Further to this, Israel launched an attack in Lebanon on April 25. The strikes, which targeted Hezbollah, resulted in four casualties and facility damage in Southern Lebanon.Back at home, Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, and Thob Al Aseel (SASE:4012) posted their financial results for the three months ended March 31. Petro Rabigh emerged from a loss in the first quarter, while Thob Al Aseel logged a higher net profit and revenue."The reason for net profit reported during the current quarter compared to a net loss recorded in the same quarter of last year was primarily attributable to improved product margins resulting from stronger refined product pricing and higher sales volumes," Petro Rabigh said in its report.Petro Rabigh rose 10% at closing, while Thob Al Aseel ticked down 1.59%.Meanwhile, the local calendar will be mostly empty except for the kingdom's preliminary figures for its GDP growth rate for the first quarter and the M3 money supply and private bank lending data for March on Thursday.

^TASISASE:2380SASE:4012
Asia Markets

Nasdaq, S&P 500 Touch All-Time Highs as Intel Lifts Tech, Stage Set for Iran Peace Talks This Weekend

The Nasdaq Composite and the S&P 500 hit records on Friday as Intel's (INTC) blowout Q1 results galvanized the technology sector amid reports that the White House is sending its Iran peace envoys to Pakistan for talks this weekend.The Nasdaq was up 1.6% to 24,836.60, after touching a record 24,854.04 intraday. The S&P 500 was up 0.8% to 7,165.08, after hitting a peak of 7,168.59 earlier in the session. The Dow Jones Industrial Average declined 0.2% to 49,230.71 at the close, as health care, industrials, and financials led the decliners.Intel shares soared 24%, the top gainer on the S&P 500 and the Nasdaq, after the company reported higher fiscal Q1 adjusted earnings and revenue. The chipmaker issued a fiscal Q2 outlook above market expectations. Nvidia (NVDA), Advanced Micro Devices (AMD), and Arm (ARM) were among the biggest outperformers across the S&P 500 and the Nasdaq.Iran's Foreign Minister Abbas Araghchi, the main mediator between Tehran and Washington, arrived in Islamabad, according to The Wall Street Journal. US envoys Steve Witkoff and Jared Kushner will travel to Pakistan on Saturday to participate in direct talks with Iran, CNN cited the White House.There is, however, no confirmation yet that American delegates will meet directly with Araghchi, according to both publications. US Vice President JD Vance will be on standby to travel if there is progress in the negotiations, a White House official told the WSJ.West Texas Intermediate crude oil futures fell 1% to $94.87, while Brent crude futures rose 0.8% to $105.95. Both WTI and Brent were up more than 1.5% each earlier in the session.In precious metals, gold futures rose 0.1% to $4,726.8, and silver futures climbed 0.5% to $75.91, after both traded lower earlier in the session.In economic news, the University of Michigan consumer sentiment index was revised up to 49.8 for April from 47.6 preliminary, compared with expectations for 48.5 in a Bloomberg-compiled survey. The index remains below the final 53.3 print in March. Respondents expected a 4.7% inflation rate over the next year and 3.5% annual inflation over the next five years, up from 3.8% and 3.2%, respectively, in March.US Attorney General for DC Jeanine Pirro said Friday on X that she has ordered her office to close its investigation into Federal Reserve Chair Jerome Powell. The Inspector General for the Federal Reserve has been asked to scrutinize cost overruns related to building construction, Pirro said. The move likely brings Kevin Warsh closer to taking over from Powell next month.Most US Treasury yields fell, with the 10-year slipping 1.5 basis points to 4.31% and the two-year dropping 4.2 basis points to at 3.78%.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$INTC$NVDA
Asia Markets

US Equity Indexes Mixed This Week as Surging Technology Fails to Outweigh Iran Geopolitics

US equity indexes closed mixed this week, as quarterly earnings helped the technology sector top charts while a failure to hold the second round of Iran peace talks knocked confidence.* The S&P 500 closed at 7,165.08 on Friday, up 0.6% this week, according to data compiled by FactSet. The Nasdaq Composite ended at 24,836.60, rising 1.5% over the past five days. The Dow Jones Industrial Average ended at 49,310.32, down 0.4% from a week ago.* Technology and energy led sector gainers, while health care and financials were among the steepest decliners.* Intel's Q1 galvanized the technology sector as the chipmaker reported blowout results, pushing its shares as high as 25% on Friday. Arm (ARM), Advanced Micro Devices (AMD), and Texas Instruments (TXN) each delivered returns of more than 20% this week.* Investors balked after Tesla (TSLA) unveiled its capital expenditure guidance for 2026, taking the shine off Q1 beats. TechCrunch reported the firm plans to spend $25 billion this year, compared with $8.5 billion in 2025. Tesla's shares ended 5.9% lower this week.* Late Friday, WTI and Brent crude oil futures trading at $94.74 and $105.79, respectively, were higher from a week ago, reflecting mainly the US-Iran's failure to hold the second round of talks in Pakistan earlier this week. The duo remained at an impasse up until Thursday, as Tehran refused to negotiate a peace deal as long as the US Navy continued to blockade its ports and Washington refused to lift the siege.* However, on Friday, news emerged that US envoys Steve Witkoff and Jared Kushner will travel to Islamabad, Pakistan, on Saturday to participate in direct talks with Iran, CNN cited the White House. On the same day, Tehran also announced it is sending Foreign Minister Abbas Araghchi to Pakistan, the news report said. WTI and Brent crude futures traded lower on Friday.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$INTC$TSLA$TXN