Stock Market Today: Live Updates

Stock futures fell Sunday night after a record week as traders awaited quarterly results from Nvidia and other major U.S. retailers. Investors were also keeping an eye on the war between the United States and Iran.

Dow Jones Industrial Average Futures It fell by 417 points (0.84%). S&P500 and Nasdaq 100 futures They fell by 0.67% and 0.74%, respectively.

Oil prices rose in early trading. West Texas Intermediate futures rose 1.8% to $107.26 a barrel. Brent crude rose 1.1% to $110.47.

Nvidia, along with Target, is scheduled to report earnings on Wednesday, while Walmart is scheduled to report results on Thursday. These releases come at a sensitive time for the stock. Last week, the S&P 500 and Nasdaq hit new highs, and the Dow briefly regained the $50,000 level.

However, major averages fell on Friday as sovereign bond yields around the world rose. The yield on the 30-year U.S. Treasury bond hit its highest level in about a year. In the UK, 30-year gilt yields, along with Japan’s long-term government bond yields, have risen to levels not seen since the late 1990s.

The moves come as tensions between Iran and the United States remain high and oil prices remain high, with President Donald Trump saying on Sunday that Iran “must move” or “there will be nothing left.” Both countries are still negotiating to end the war.

Tech stocks, which had driven the market to record highs, were hurt by the sharp rise in yields. The Nasdaq 100 index fell 1.5% on Friday, its worst single-day performance since March 27.

Add to that the new inflation numbers released last week, making it a long shot that the Federal Reserve will cut interest rates in the near future.

“Financial markets expect interest rates to remain high for an extended period of time, despite President Trump’s calls for lower interest rates from new Fed chief Kevin Warsh,” said Ed Yardeni, president of Yardeni Research. “However, the macroeconomic backdrop no longer supports an easing bias, much less a rate cut.”