U.S. Stock Index Futures Rise Amid Easing Middle East Tensions

U.S. stock index futures increased late Sunday as Israel refrained from attacking key Iranian nuclear and oil sites during the weekend, suggesting a reduction in regional tensions.

Focus on Technology Earnings and Economic Indicators

This week, the focus shifts to major technology earnings and critical economic indicators to gauge corporate health and economic trends.

Wall Street had a mixed week, with technology stocks outperforming more sensitive sectors.

S&P 500 Futures rose 0.4% to 5,871.25, while Nasdaq 100 Futures gained 0.5% to 20,597.75 at 19:14 ET. Dow Jones Futures increased 0.4% to 42,468.0 points.

Oil Prices Decline and Risk Appetite Improves

Oil prices dropped on Monday, while investors' risk appetite improved as Israel conducted a retaliatory strike against Iran but avoided critical facilities. Iran reported limited damage and vowed to retaliate.

Nasdaq Reaches Record High with Tech Earnings Approaching

Wall Street closed mixed on Friday, with the Nasdaq recording a record intraday high, while the S&P 500 and Dow struggled.

As important technology earnings are anticipated, particularly from Wall Street’s “Magnificent Seven,” stock positioning increased.
– Alphabet Inc (NASDAQ: GOOGL) reports Tuesday
– Meta Platforms Inc (NASDAQ: META) and Microsoft Corporation (NASDAQ: MSFT) report Wednesday
– Apple Inc (NASDAQ: AAPL) and Amazon.com Inc (NASDAQ: AMZN) report Thursday

These five firms comprise a significant portion of market valuations, influencing the broader market performance and indicating whether AI investments continue.

On Friday, the S&P 500 settled flat at 5,808.12, the NASDAQ rose 0.6% to 18,518.61, and the Dow fell 0.6% to 42,114.40.

Upcoming Economic Readings

In addition to earnings, key economic readings are on the horizon, including housing prices, third-quarter GDP data, and PCE price index data. The 2024 presidential election is also approaching next week.