US stock index futures rise after oil drop and recent equity selloff
SPY•US stock index futures rose early Monday after a recent selloff, while oil futures dropped about 6% on hopes for a deal to end the Iran war. Investors were also watching US midterm election results Tuesday and the monthly jobs report due Friday.
1. Futures rise
US stock index futures were higher early Monday following a recent market selloff, as oil futures dropped about 6% on hopes for a deal to end the Iran war.
2. Market pressures
On Friday, the Nasdaq recorded its biggest one-day decline as earnings reports fueled concerns about AI spending and how long the AI boom could last. Higher oil prices have fueled inflation worries that have weighed on markets this year. The yield on the 10-year US Treasury was last down at 4.91%.
3. Events ahead
Investors were watching Tuesday’s US midterm election results, which will determine which party controls Congress, and the monthly US jobs report due Friday.
