United States stock futures traded in a tight range on Sunday night (Monday AEST) as investors monitored ongoing developments in the Middle East and assessed the outlook for markets following recent record highs.
By 9:45 am AEST (11:45 pm GMT), futures linked to the Dow Jones Industrial Average and S&P 500 were each up 0.1%, while Nasdaq 100 futures were little changed.
The muted moves followed a mixed session on Friday, when both the S&P 500 and Nasdaq Composite reached fresh all-time intraday and closing highs.
The S&P 500 rose 0.2%, while the Nasdaq advanced 0.9%, supported by gains in technology stocks. In contrast, the Dow Jones Industrial Average slipped 0.3%.
Investor attention remains focused on geopolitical developments after U.S. President Donald Trump announced a new initiative aimed at addressing disruptions in global shipping.
In a post on Truth Social, Trump unveiled “Project Freedom”, outlining plans for the United States to assist cargo ships from neutral countries stranded due to the closure of the Strait of Hormuz. The effort is expected to begin on Monday.
“I have told my Representatives to inform them that we will use best efforts to get their Ships and Crews safely out of the Strait,” Trump said. “In all cases, they said they will not be returning until the area becomes safe for navigation, and everything else.”
The post did not provide details on how the operation would be carried out.
The announcement followed reports that Iran had received a response from the United States to its latest proposal for peace talks.
Earlier, Tehran had submitted an updated proposal via Pakistani mediators, raising hopes among investors that a diplomatic resolution could be reached.
Despite ongoing geopolitical uncertainty, investor sentiment has remained supported by a strong first-quarter earnings season and expectations of a potential easing in tensions.
Looking ahead, market participants are focused on the upcoming U.S. April employment report, due on Friday (Saturday AEST), which is expected to provide further insight into the health of the labour market.
Markets are expecting the economy to add 73,000 jobs during the month, significantly lower than the previous reading of 178,000, while the unemployment rate is projected to remain steady at 4.3%.
In corporate news, investors will also monitor earnings releases from Loews, Norwegian Cruise Line and Tyson Foods ahead of Monday’s opening bell.
