U.S. stock futures rebound Sunday evening and oil pulls back as shelved Iran strike eases war premium
What happened
U.S. stock futures opened Sunday evening higher, reversing some of Friday's sharp selloff, while crude oil futures fell more than 1%. Just after 6 p.m. ET Sunday, S&P 500 futures were up 0.4%, Nasdaq-100 futures up 0.6%, and Dow futures up 0.3% (about 165 points), according to Barron's. Investor's Business Daily later Sunday night reported futures holding modest gains (Dow and S&P 500 up 0.1%, Nasdaq edging higher) with crude oil futures down more than 1%. The rebound follows President Trump's Sunday decision to shelve a planned strike on Iran and point to talks beginning Monday, easing the immediate war premium that had driven Brent above $116.
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Start your free 14-day trialWho’s affected
- Broad U.S. equities (S&P 500, Nasdaq-100, Dow futures all higher); energy stocks and oil majors (crude pullback trims the war premium that lifted energy 2.51% Friday); mega-cap tech (Microsoft, Alphabet, Amazon report this week and are most sensitive to risk sentiment); airlines, transports and consumer names (lower oil eases fuel-cost and inflation pressure). Secondary cross-current: Brazilian equities indicated sharply lower after Luiz Inácio Lula da Silva narrowly won re-election in Sunday's run-off.
Sources