U.S. stock index futures stabilized on Monday evening: investors focused on upcoming earnings reports from the largest technology companies, while heightened tensions around Iran restrained risk appetite.
Futures stabilized after a negative session on Wall Street that ended with a drop on Monday amid concerns about intensifying military tensions, which triggered a sharp rise in oil prices.
S&P 500 futures were virtually unchanged, at 7,482.50 points as of 02:54 Moscow time. Nasdaq 100 futures were also steady at 28,784.0 points, while Dow Jones futures barely moved—at 52,083.0 points.
Wall Street was still reeling from major losses last week: doubts about the justification for high chipmakers’ stock valuations, fueled by expectations in artificial intelligence, triggered a deep sell-off in the sector.
Strikes on Iran continue: Trump promises a response for the deaths of the troops
The U.S. Central Command carried out strikes on Iran for the tenth consecutive time on Monday, and it is expected that the scale of operations will be expanded this week.
President Donald Trump said Iran would “pay” for the deaths of American soldiers—at least three servicemembers were killed as a result of Iranian attacks on U.S. bases in the Middle East.
On Monday, oil prices reached five-week highs: the renewed conflict effectively cut off transit through the Strait of Hormuz, intensifying concerns about a drawdown in global inventories and tighter supply.
A rise in oil prices also heightened concerns about the persistence of inflation, which in turn could push the Federal Reserve to raise interest rates in the coming months.
Although markets broadly expect the central bank to keep rates unchanged at next week’s July meeting, fears persist that persistent inflation may force the Fed to raise rates later this year—especially after Fed Chair Kevin Warsh reaffirmed the regulator’s commitment to the 2% annual inflation target.
Tesla and Alphabet will lead the earnings season for the second quarter
In focus this week are earnings reports from the largest technology companies: Tesla Inc (NASDAQ:TSLA) by Elon Musk and Alphabet Inc (NASDAQ:GOOGL), the parent company of Google, will release results for the June quarter on Wednesday.
Tesla is expected to show stronger results amid a recovery in electric vehicle sales, while Alphabet’s report will focus mainly on the company’s large-scale plans for investing in artificial intelligence.
Alphabet will also be closely watched after a report surfaced last week that the company postponed the launch of its AI model Gemini 3.5 Pro.
Other major reports this week include General Motors Company (New York:GM), Danaher Corporation (New York:DHR), Charles Schwab Corp (New York:SCHW) and MSCI Inc (New York:MSCI), all of which will report on Tuesday.
Philip Morris International Inc (New York:PM), Gevo Inc (NASDAQ:GEVO), Moody’s Corporation (New York:MCO), CME Group Inc (NASDAQ:CME) and Texas Instruments Incorporated (NASDAQ:TXN) will report on Wednesday, while chipmaker Intel Corporation (NASDAQ:INTC) will report on Thursday.
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