U.S. Stock Futures Hold Steady as Iran Talks and April Jobs Data Loom

CNBC reported Sunday night that U.S. stock futures were barely moving as investors tracked fast-moving diplomatic developments between Washington and Tehran.

S&P 500 futures edged up 0.1% and Nasdaq 100 futures were roughly flat. Dow futures added around 81 points, or approximately 0.2%.

Records on the Books After a Strong Friday

Both the S&P 500 and Nasdaq Composite closed at fresh all-time highs on Friday. The broad index gained 0.29% while the tech-heavy Nasdaq advanced 0.89%. The Dow Jones Industrial Average was the outlier, slipping roughly 153 points, or about 0.3%.

Bank of America strategist Nigel Tupper pointed to a resilient global earnings cycle as reason for continued optimism. He cited persistent investment themes as supportive of further equity market gains going forward.

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Trump Launches “Project Freedom” for Hormuz-Stranded Ships

On Sunday, President Donald Trump announced an initiative he called “Project Freedom” via Truth Social. The plan aims to escort cargo vessels belonging to nations not party to the Middle East conflict. Those ships have been stranded since Iran closed the Strait of Hormuz.

Trump wrote that U.S. representatives would work to secure safe passage for the affected ships and their crews. He offered no specific operational details on how the effort would be executed.

The announcement followed Iran’s confirmation that it had received a U.S. response to its latest peace proposal. Tehran had previously sent an updated offer through Pakistani intermediaries on Friday, briefly lifting market sentiment. Trump later pushed back, saying Iran was only seeking a deal due to military weakness.

Also Read: Oil Prices Climb as Strait of Hormuz Closure Rattles Energy Markets

Background: Earnings Season and AI Optimism Underpin the Rally

Stocks have climbed to new records in recent sessions on the back of a strong first-quarter earnings season. Chris Senyek, chief investment strategist at Wolfe Research, said robust results from large-cap technology companies were reinforcing the artificial intelligence trade.

He argued that solid Magnificent Seven earnings would keep investors chasing semiconductor and memory names seen as direct AI beneficiaries.

Jobs Report and Earnings Slate Ahead

The week’s centerpiece data release will be the April nonfarm payrolls report on Friday morning. Dow Jones consensus forecasts call for just 53,000 new jobs, a steep drop from March’s 178,000 reading. The unemployment rate is expected to hold at 4.3%.

Oil prices eased overnight. West Texas Intermediate futures fell roughly 0.3% to around $101.68 a barrel, while Brent crude slipped to near $108 per barrel, as Project Freedom news tempered some supply-disruption fears.

Nearly a quarter of S&P 500 companies are also scheduled to report earnings this week, keeping corporate news flow heavy.

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