US Stock Futures Advance Monday as Market Focuses on Middle East Situation

TradingKey - Major Wall Street index futures rose collectively on Monday as oil prices continued to climb. As of 8:00 a.m. ET, S&P 500 futures gained 34 points, or 0.53%; Nasdaq 100 futures rose 0.50%; and Dow Jones Industrial Average futures were also up 254 points.

U.S. stocks suffered a sharp sell-off last Friday (27th), with the three major indices closing at their lowest levels in over seven months. The Dow, S&P 500, and Nasdaq have now fallen for five consecutive weeks, marking the longest weekly losing streak in nearly four years.

Specifically, the Dow Jones Industrial Average has dropped more than 10% since hitting a record closing high on February 10, becoming the next major index after the Nasdaq to officially enter correction territory.

Trump posted on social media that the U.S. is conducting serious negotiations with 'a more rational new regime' and that significant progress has been made. However, he also warned that if a deal is not reached soon and 'normal operations' are not restored in the Strait of Hormuz, the U.S. could launch strikes against Iranian power facilities, oil wells, and energy infrastructure like Kharg Island.