Wall Street futures were little changed on Monday as investors monitored oil prices and geopolitical developments ahead of key US bank earnings and inflation data due this week. At 5:36 a.m. ET, Dow E-minis rose 0.08%, S&P 500 E-minis gained 0.12%, while Nasdaq 100 E-minis slipped 0.05%. Investors are assessing the potential impact of economic indicators on the Federal Reserve’s interest-rate decisions.
Oil prices fluctuated following US President Donald Trump’s announcement that Russia and Ukraine had agreed to halt attacks on each other’s energy facilities. However, uncertainty surrounding the agreement and renewed tensions in the Middle East kept Brent crude above $100 a barrel. Recent strikes on Riyadh’s international airport further heightened concerns over energy supplies and inflation. Elevated oil prices have also contributed to rising US Treasury yields, raising fears that persistent inflation could prompt the Federal Reserve to maintain a tighter monetary policy.
Investors are now turning their attention to the third-quarter earnings season, which begins on Tuesday with reports from major banks, including JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo. S&P 500 earnings are expected to rise 30.6% year-on-year, according to LSEG IBES data. Markets will also closely watch US consumer and producer price inflation figures and retail sales data. Headline consumer inflation is expected to rise 0.6% month-on-month and 3.7% annually, while core inflation is forecast to increase 0.2% monthly and 2.5% annually. Meanwhile, shares of data-centre firm IREN climbed 5.4% in premarket trading following a report of a multi-year cloud deal with Anthropic.
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