U.S. equity futures edged lower Monday, with investor sentiment weighed by a rise in oil prices after President Donald Trump dismissed Iran’s latest effort to resolve ongoing hostilities. The retreat follows a strong streak of gains for major U.S. indices, leaving market participants watching for signs of inflation pressures and corporate results.
At 4:15 p.m. (Bangkok Time), contracts tracking the Dow Jones Industrial Average dropped 0.04% in early trade, while S&P 500 futures slipped 0.03%. Nasdaq 100 futures shrunk 0.04%. The modest pullback comes after both the S&P 500 and Nasdaq Composite surged more than 2% and 4% last week, respectively. Each index extended its winning run to six consecutive weeks for the first time since 2024. The Dow gained 1.36% over the week, notching its fifth advance in the past six weeks.
The prior week’s rally received a boost on Friday as the U.S. government’s April nonfarm payrolls report showed jobs growth of 115,000, outpacing the 55,000 increase anticipated by economists surveyed by Dow Jones. Strong employment data sent the S&P 500 and Nasdaq to fresh record closing highs at the end of the session.
Investors continue to monitor elevated geopolitical risks, with Iranian media reporting that the country had presented U.S. officials with a revised offer seeking a resolution to the conflict and an easing of sanctions. President Trump, however, publicly dismissed the proposal as “totally unacceptable” in a social media post.
Following Trump’s rejection of the peace plan, West Texas Intermediate crude futures surged 2.35% to $97.66 per barrel on Monday, while Brent crude gained 2.66% to trade at $103.98 per barrel.
Attention is now turning to several key economic indicators due this week, including consumer and producer inflation data for April. Investors are watching to see if the recent oil uptick translates into wider inflationary effects. Several major companies, including Fox, Barrick Mining, and Constellation Energy, are also set to deliver earnings reports before markets open Monday.
