Oil prices tumbled Sunday as a de-escalation of U.S.-Iran hostilities stripped geopolitical risk premiums from crude markets, redirecting attention to domestic economic data and corporate performance. Stock index futures rose, reflecting a reduced immediate threat.
Crude futures fell sharply during Sunday trading as investors priced out the risk of Middle East supply disruptions. Reduced tensions point to a more stable global supply outlook near term.
U.S. equity futures rallied on the news, with investors anticipating a calmer week ahead. The move follows a flat Friday close for the S&P 500 at 7,412. The Nasdaq ended down 0.6 percent at 24,976, signaling caution heading into the weekend.
Wall Street now faces a week dominated by central bank policy and corporate earnings. The Federal Reserve's Federal Open Market Committee meeting begins Tuesday. Fed Chair Kevin Warsh has repeatedly stressed the need for sustained progress toward the 2 percent inflation target before considering rate adjustments.
Major technology companies are scheduled to report quarterly results, offering a read on economic health and consumer spending. Apple, Amazon, Microsoft, Alphabet, Meta, Nvidia and Tesla are among the firms set to release earnings, with their results providing data points on growth and profitability.
