Dow futures jump 1,000 points after Trump says U.S. and Iran have held ‘productive’ talks Stock futures fell Monday, weighed by the U.S.′ latest warning against Iran, after the major U.S. benchmarks posted their fourth-straight weekly slide.
Dow Jones Industrial Average futures
were 327 points lower, or 0.7% down. S&P 500 futures
shed 0.8%, and Nasdaq-100 futures
fell 1%.
The Cboe Volatility Index (VIX)
, referred to by many on the Street as the market’s “fear gauge”, ticked above 30 for the first time since earlier this month.
Those moves came as the Iran war entered its fourth week, with tensions escalating over the weekend. President Donald Trump threatened an attack on Iranian power plants if the Strait of Hormuz — a key shipping route for oil and other energy products — isn’t reopened. Iran responded in turn said it would target U.S. infrastructure, including energy and desalination facilities ?in the Gulf, if the U.S. carried out its threat.
Crude prices rose in early Monday trading. West Texas Intermediate futures
climbed 1.1% to $99.22 per barrel. International benchmark Brent
advanced 1.3% to $113.58.
“Clearly, Iran is not backing down,” wrote Ben Emons, CIO and founder of Fed Watch Advisors. “The risk-off sentiment could worsen substantially this week, with the first visible macro effects in a deluge of global PMI data. … Portfolio de-risking could continue, making cash a viable asset again.”
The S&P Global Flash U.S. PMI report is due Tuesday morning.
Investors will also be keeping an eye on support levels. The S&P 500 last week broke below its 200-day moving average for the first time since May.
The Dow and Nasdaq fell around 2% each last week, while the S&P 500 lost 1.5%. For the Dow, it also marks its first four-week losing streak since 2023.
