United States stock futures traded mixed on Sunday night (Monday AEST) after Wall Street posted another strong week of gains, while investors monitored escalating tensions surrounding negotiations between the United States and Iran.
By 10:20 am AEST (12:20 am GMT), Dow Jones futures were down 0.3%, S&P 500 futures slipped 0.2%, while Nasdaq 100 futures edged 0.1% higher.
The cautious start to the week followed a strong performance across major equity benchmarks last week. The S&P 500 and Nasdaq Composite rose more than 2% and 4%, respectively, with both indexes recording their sixth consecutive weekly gains, their longest winning streak since 2024.
The Dow Jones Industrial Average gained 0.2% over the week, marking its fifth weekly advance in the past six weeks.
Wall Street ended Friday’s session on a positive note after the latest U.S. labour market report showed nonfarm payrolls increased by 115,000 jobs in April, comfortably ahead of expectations for 62,000 new positions.
The stronger-than-expected employment data helped lift investor sentiment, with both the S&P 500 and Nasdaq Composite finishing Friday at fresh record highs.
Investor attention shifted back towards developments in the Middle East after Iran submitted a new proposal to U.S. negotiators aimed at ending the month-long conflict.
However, President Donald Trump responded critically to the proposal in a Truth Social post.
“I have just read the response from Iran’s so-called ‘Representatives.’ I don’t like it — TOTALLY UNACCEPTABLE!” Trump wrote.
Oil prices moved higher in overnight trading following Trump’s rejection of the Iranian proposal, reflecting renewed concerns about instability in the region and the potential impact on global energy supplies.
Ahead in the week, attention will be focussed on economic data and earnings reports alongside developments in the Middle East.
This week’s releases of the April consumer price index and producer price index will be closely watched for signs of how the ongoing conflict and higher oil prices are affecting inflation pressures across the U.S. economy.
Corporate earnings will also remain in focus, with investors awaiting results from companies including Under Armour and Cisco.
