US stock futures edged upward on Monday, building on gains from last Friday when all major indexes closed near record levels. Dow Jones futures jumped 351 points, about 0.67%, while S&P 500 and Nasdaq-100 futures rose 0.50% and 0.51%, respectively. The Dow itself closed Friday at 52,485, with the Nasdaq Composite gaining a full percentage point to finish above 25,000.
Oil prices tumbled sharply following President Trump's announcement that he canceled a planned attack on Iran. West Texas Intermediate crude for September delivery plunged 5.48% to around $80 per barrel, marking a significant retreat from recent highs. Brent crude also dropped over 4%, helped by easing geopolitical tensions that had spiked concerns about Middle East conflict and supply disruptions.
European markets responded positively this Monday morning. The Stoxx Europe 600 nudged higher by 0.3%, driven by a nearly 2.3% rally in automobile stocks. Germany’s DAX index led gains with a 1.48% jump, while France’s CAC 40 added 1.3%. The UK’s FTSE 100, however, remained almost flat. In contrast, Asian markets showed mixed results. South Korea’s Kospi gave back more than 5% of its Friday gains, Japan’s Nikkei dropped almost 1%, and China’s CSI 300 slipped by 0.98%. Australia bucked the trend, with the S&P/ASX 200 rising 0.47%.
Focus Turns to Jobs Data and Earnings Reports
Investors are now bracing for a slew of corporate earnings that might clarify how consumer habits and technology demand are evolving amid economic uncertainties. This week features key reports from McDonald’s, Kraft Heinz, Costco Wholesale, and Walt Disney. In the tech sector, attention will center on Palantir and Advanced Micro Devices. Labor market updates loom as potential market movers, with several employment reports scheduled, culminating in Friday’s key jobs data release.
According to experts, these economic indicators will be key for determining whether the current momentum propelling stocks toward record territory can hold through the summer.
This material is for informational purposes only and does not constitute financial advice.
