S&P 500 Futures Edge Higher as Iran Talks and Jobs Data Dominate the Week

CNBC reported early Monday that S&P 500 futures were edging higher as markets reopened, with investors tracking a fast-moving diplomatic situation in the Middle East alongside a pivotal week of economic data.

S&P 500 futures added around 0.11% in pre-market trade. Nasdaq 100 futures rose 0.33%. Dow Jones Industrial Average futures slipped roughly 48 points, underperforming the other major contracts.

Fresh Records Set the Stage

Both the S&P 500 and the Nasdaq Composite closed at all-time highs on Friday. The broad index gained 0.29% on the session, while the tech-heavy Nasdaq advanced 0.89%. The Dow was the outlier, shedding about 153 points on the day.

Bank of America strategist Nigel Tupper said in a Friday client note that the combination of a strong global earnings cycle and persistent investment themes continues to support further equity market gains. His view aligns with a broader sense of cautious optimism now running through Wall Street.

Iran Diplomacy Moves Markets

The geopolitical backdrop remained fluid over the weekend. President Donald Trump posted on Truth Social announcing “Project Freedom,” a plan for the US to assist vessels from uninvolved nations that have been stranded by the closure of the Strait of Hormuz. The initiative was set to begin Monday, though the post offered no operational details.

Iran separately confirmed it had received a US response to its most recent peace proposal, which had been relayed through Pakistani mediators on Friday. Trump, however, indicated he was not satisfied with Tehran’s terms.

Oil prices dipped on the news. West Texas Intermediate futures for July delivery fell about 0.26% to $101.68 per barrel. Brent crude slipped 0.13% to $108.03.

Earnings and AI Keep the Bulls Engaged

Chris Senyek, chief investment strategist at Wolfe Research, argued that solid results from the largest technology companies are extending the artificial intelligence trade. He expects investors to keep rotating into perceived winners in semiconductors and memory storage. Around 121 S&P 500 companies are scheduled to report this week, representing nearly a quarter of the index.

Jobs Friday Is the Big Macro Test

The week’s defining data point arrives Friday morning. Dow Jones consensus estimates project just 53,000 nonfarm payroll additions for April, a steep drop from March’s 178,000. The unemployment rate is expected to hold at 4.3%. South Korea’s Kospi index hit a fresh record Monday, gaining more than 4%, reflecting Asia-wide appetite for risk as Project Freedom details filter through.

Read Next: Fed Holds Rates Steady as Tariff Uncertainty Clouds Inflation Outlook