Traders work on the floor of the American stock exchange AMEX at the New York Stock Exchange (NYSE) on Wednesday, May 6, 2026 in New York, USA.
Michael Nagle | Bloomberg | Getty Images
Stock futures fell slightly on Sunday night as traders considered recent events in the Middle East and braced for a slew of corporate results to be released later in the week.
Dow Jones Industrial Average Futures Although it fell by 135 points (0.3%), S&P500 futures It decreased by 0.3%. Nasdaq 100 futures It fell by 0.5%.
Iran and the United States exchanged airstrikes again over the weekend, with Tehran targeting American facilities in several Gulf states and declaring a closure of the Strait of Hormuz. But President Donald Trump disputed that claim Sunday, saying the vital waterway remains open to commercial traffic.
President Trump on Saturday ordered airstrikes against Iran following the Iranian attack on a commercial ship transiting the strait.
Oil prices rose in early trading amid rising tensions. brent futures It rose 3.7% to $78.86 per barrel. West Texas Intermediate Futures It also rose more than 3% to $74.05.
In Asia, markets opened higher as investors shrugged off rising tensions. Japanese benchmark Nikkei Stock Average rose 0.28%, and TOPIX rose 0.72%. South Korea’s Kospi rose 0.58%, and the small-cap Kosdaq rose 1.84%. australian benchmark S&P/ASX 200 It was flat in the open.
“The Channel closure will create a risk-off atmosphere in the market,” said Ben Emmons, founder of Federal Watch Advisors. “Still, unless there is a serious prospect of shutdowns in the coming months that could cause a major global energy shortage, the focus next week will be (again) on CPI, WARS and bank earnings.”
The 28 S&P 500 companies scheduled to report earnings this week include major U.S. banks, including JPMorgan Chase & Co., Goldman Sachs, Morgan Stanley, Bank of America, Citigroup and Wells Fargo. Netflix, Johnson & Johnson, and UnitedHealth also announced their quarterly results.
Expectations for the season are high. On average, analysts estimate that S&P 500 companies’ profits rose more than 23% in the second quarter from a year earlier, according to FactSet.
One sector to watch is technology, according to Raymond James CIO Larry Adam. Specifically, the question is whether AI can continue to boost revenues in this sector.
“Despite concerns that hyperscalers will begin to rein in AI-related capex, we have reaffirmed our capex plans and expect them to increase through 2028. Why? Because there is concrete evidence that businesses will benefit from AI adoption. Across all 11 sectors, mentions of AI are up 98% year over year, reaching new highs,” Adam wrote to clients.
The CPI report for June is also scheduled to be released on Tuesday morning.
