United States equity futures edged higher late Monday (Tuesday AEDT) after Wall Street’s major indices rebounded during the regular session as oil prices retreated from the previous week’s sharp surge.
By 9:30 am AEDT (10:30 pm GMT), futures tied to the Dow Jones Industrial Average and S&P 500 were each trading 0.6% higher, while Nasdaq 100 futures were up 0.7%.
The gains followed a positive session on Wall Street, where lower oil prices helped lift investor sentiment.
The Dow Jones Industrial Average rose 0.8%, while the S&P 500 advanced 1%. The technology-heavy Nasdaq Composite climbed 1.2%.
Chipmaker Nvidia was among the session’s notable movers, with shares rising around 1.7%. The gains came after chief executive Jensen Huang said during the company’s annual GTC conference that he expects roughly US$1 trillion in revenue for Nvidia’s Blackwell and Vera Rubin computing systems through 2027.
The retreat in energy prices played a key role in supporting equities. Brent crude settled down about 2.8% at US$100.21 a barrel on Monday, while West Texas Intermediate crude dropped roughly 5.3% to close at $93.50 a barrel.
Prices eased after U.S. Treasury Secretary Scott Bessent told CNBC that the United States is allowing Iranian oil tankers to pass through the Strait of Hormuz.
President Donald Trump later indicated that efforts to organise a multinational coalition to escort tankers through the strategic waterway are still ongoing.
Speaking to reporters on Monday, Trump suggested the coalition had not yet been finalised and encouraged other countries to join the initiative aimed at protecting shipping routes in the region.
Investors continue to monitor the evolving conflict closely, though the resilience of the U.S. economy has helped support equities despite the geopolitical uncertainty.
Attention is now turning to the upcoming corporate earnings reports. Athletic apparel maker Lululemon, electronic-signature platform Docusign, and nuclear energy developer Oklo are scheduled to release their quarterly results on Tuesday (Wednesday AEDT).
Investors are also awaiting the Federal Reserve’s second interest rate decision of the year, which is due on Wednesday (Thursday AEDT).
Expectations for rate cuts have weakened in recent weeks as renewed inflation concerns have emerged following the spike in oil prices tied to the Iran conflict.
According to the CME Group FedWatch Tool, markets are increasingly pricing in the possibility that the central bank will maintain a cautious stance on monetary policy until inflation risks tied to energy markets become clearer.
