Stocks Set to Open Lower as Fresh U.S.-Iran Flare-Up Lifts Oil, Jobs Data Awaited

September S&P 500 E-Mini futures (ESU26) are down -0.23%, and September Nasdaq 100 E-Mini futures (NQU26) are down -0.17% this morning, pointing to a lower open on Wall Street as renewed hostilities in the Middle East pushed oil prices higher.

The price of WTI crude climbed nearly +4% on Monday after the U.S. and Iran exchanged strikes for the first time in about a month. U.S. forces struck two Iranian rocket launchers on Sunday that Central Command said were being prepared to deploy mines into the Strait of Hormuz. In response, Iran's Islamic Revolutionary Guard Corps carried out a missile-and-drone strike on U.S. air bases in Jordan early Monday. Separately, the IRGC said that an unidentified supertanker attempting to transit the southern route through the Strait of Hormuz was hit by two mines. Meanwhile, U.S. President Donald Trump posted an AI-generated video depicting Iran's Kharg Island being blown up, hours after the U.S. strike.

Wu-Tang Clan Member Raekwon Is a Palantir 'OG,' Visiting Headquarters 16 Years After Receiving His Custom PLTR Jacket

Tesla Stock Could Benefit as Trump Locks Down the U.S. Power Grid

Tesla Just Killed Its Solar Roof After Years of Struggling to Scale. What It Means for TSLA Stock.

Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now!

Treasuries were mixed on Monday. Yields on shorter-dated Treasuries fell, paring some of Friday's jump following Federal Reserve Chairman Kevin Warsh's hawkish speech, while yields on longer-dated notes rose as higher oil prices fueled inflation concerns.

This week, market participants are looking ahead to a slew of U.S. labor market data and earnings reports from several high-profile tech companies.