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US Equity Futures Rise Pre-Bell as Oil Prices Drop Amid Pause in Middle East Hostilities

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US equity futures rose pre-bell Monday as oil prices declined amid a pause in hostilities between the US and Iran over the weekend.

Dow Jones Industrial Average futures were 1.1% higher, S&P 500 futures were up 0.9%, and Nasdaq futures were 1.4% higher.

The US did not strike any Iranian targets on Saturday or Sunday after 13 consecutive nights of attacks. The US ambassador to the United Nations, Mike Waltz, told Fox News that President Donald Trump has halted the attacks for the meantime to allow more time for diplomacy. Iran said it will suspend its own attacks as long as the US does the same, Reuters reported Sunday, citing a senior Iranian official.

Traders anticipate another round of earnings this week, kicked off by AstraZeneca (AZN), which posted higher Q2 core earnings and revenue.

Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), Amazon.com (AMZN), Lam Research (LRCX), and Arm (ARM) are set to release their financial results this week. Anticipated earnings also include Seagate Technology (STX), Qualcomm (QCOM), Procter & Gamble (PG), Visa (V), and Mastercard (MA).

Traders also look forward to the Federal Reserve's policy session and rate statement, slated for Wednesday.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 6.5% at $85.74 per barrel and US West Texas Intermediate crude 6.8% lower at $83.23 per barrel.

The June durable goods orders report is expected to show a 1.8% increase after a decline of 4.5% in the prior month, according to estimates compiled by Bloomberg. The Dallas Fed manufacturing survey for July will be released at 10:30 am ET.

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