Stock Futures Slip as Trump Rejects Iran Ceasefire Proposal

CNBC reported early Monday that US stock futures edged lower overnight after President Donald Trump publicly rejected Iran’s latest ceasefire counteroffer. Oil prices surged in response, threatening to cloud an otherwise strong stretch for equities.

Futures Dip After Trump Dismisses Iran Offer

Dow futures fell around 81 points, or roughly 0.16%, in overnight trading. S&P 500 and Nasdaq 100 futures also posted marginal declines. The moves came after Iran submitted a new proposal to US negotiators over the weekend. The offer called for a full end to hostilities across all fronts and the removal of sanctions on Tehran. Trump responded on Truth Social, writing that he found the proposal “TOTALLY UNACCEPTABLE.” Oil markets reacted swiftly to the diplomatic breakdown. West Texas Intermediate futures for June climbed nearly 4% to $99.18 per barrel. Brent crude for July rose 3.49% to $104.83 per barrel.

A Winning Streak Now Under Pressure

The pullback follows a notably strong run for US markets. The S&P 500 and Nasdaq Composite each closed at all-time highs on Friday. Both indexes registered their sixth consecutive winning week, a streak neither had achieved since 2024. The Dow added 0.2% last week, marking five gains in its last six sessions. Friday’s momentum came from a surprisingly robust jobs report. April nonfarm payrolls rose by 115,000, well above the 55,000 consensus estimate from economists polled by Dow Jones.

BlackRock Sees Resilience Despite Oil Shock

Not every market observer is alarmed. BlackRock Chief Investment Officer of Global Fixed Income Rick Rieder told CNBC that the Iran conflict and associated oil price shock could modestly slow growth. But Rieder argued that deeper structural factors should keep the broader economy in better shape than many currently expect. Investors will look for further clues in the coming days. April consumer price index and producer price index data are both due this week. Traders will watch closely for any sign that elevated oil costs are feeding through into wider inflation.

Asia Markets Post Mixed Session

Across the Pacific, Asian equities were split. South Korea’s Kospi surged 4.70% to open at a fresh record high. Index heavyweight SK Hynix jumped nearly 11%, tracking gains in US chip stocks from Friday. Japan’s Nikkei 225 was marginally lower, while Nintendo shares fell more than 5% following news of price hikes on its upcoming Switch 2 console. China’s CSI 300 added 0.58%. Chinese inflation data for April showed both consumer and producer prices rising more than forecast, with analysts attributing part of the pressure to commodity costs linked to the Middle East conflict.

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