US stock futures steady as oil jumps to two-week high ahead of key earnings
SPY•US stock futures were little changed as Brent crude rose above $106 a barrel, while investors awaited bank earnings and inflation data. IREN rose after a reported Anthropic cloud deal, and Salesforce gained after a BofA Global Research upgrade.
1. Futures little changed
US stock futures were subdued Monday as investors monitored oil prices and geopolitical developments ahead of bank earnings and inflation data. At 7:12 a.m. ET, Dow futures rose 0.06%, S&P 500 futures gained 0.03% and Nasdaq 100 futures fell 0.23%.
2. Oil and earnings in focus
Brent crude rose above $106 a barrel, its highest level in about two weeks, after deadly strikes on Riyadh's international airport. Earnings season begins Tuesday, with Wells Fargo, Goldman Sachs, Citigroup and JPMorgan Chase scheduled to report. S&P 500 earnings are expected to rise 30.6% in the third quarter, LSEG IBES data showed. Investors are also watching US consumer and producer price data and retail sales due this week.
3. Premarket movers
IREN rose 3.3% after The Information reported that Anthropic had entered a multi-year cloud deal with the data-center firm. Salesforce gained 4.2% after BofA Global Research upgraded its rating to buy from underperform.
