U.S. stock futures traded mixed ahead of Monday’s session as investors prepared for a busy week of corporate earnings and closely watched Consumer Price Index (CPI) data.
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Futures on the Nasdaq 100 (NDX) and the S&P 500 Index (SPX) were up 0.40% and 0.14%, respectively. Futures on the Dow Jones Industrial Average (DJIA) fell 0.04% as of 5:49 a.m. EDT on August 10.
Oil prices rose amid uncertainty over the reopening of the Strait of Hormuz and mixed signals from the U.S. and Iran about a potential agreement. At the time of writing, Brent crude (CM:BZ) rose 2.14% to $85.40 a barrel, while WTI crude (CM:CL) climbed 2.05% to $78.88 a barrel.
Last week, U.S. stocks posted a second straight week of gains, with the S&P 500 rising 3.6% and closing above 7,700 for the first time. The Nasdaq jumped 5.2% as chip stocks rebounded, while the Dow gained nearly 3%, marking the three indexes’ best weekly performances since April.
The U.S. economy lost 23,000 jobs in July, compared with expectations for a gain of 83,000, while the unemployment rate fell to 4.1%. Following the weak report, most traders expect the Federal Reserve to keep interest rates unchanged at 3.50% to 3.75% in September.
The benchmark U.S. 10-year Treasury yield stood at 4.65% as of the last check. Additionally, the spot gold price in U.S. dollars traded around $4,343.41 per ounce on Monday.
Investors are also preparing for another busy earnings week, with results due from Super Micro Computer (SMCI), CoreWeave (CRWV), Cisco (CSCO), Hims & Hers (HIMS), Nebius Group (NBIS), Applied Materials (AMAT), Plug Power (PLUG), Rocket Lab USA (RKLB), Archer Aviation (ACHR), and AST SpaceMobile (ASTS).
European markets opened mostly mixed on Monday amid continued uncertainty surrounding the conflict in the Middle East.
Asia-Pacific Markets End Higher
Asia-Pacific markets ended mostly higher on Monday, following Wall Street’s strong performance last week as positive sentiment carried into the new trading week.
Hong Kong’s Hang Seng Index gained 1.05%. In China, the Shanghai Composite rose 0.67%, while the Shenzhen Component was up 0.73%. In Japan, the Nikkei added 2.08%, while the Topix gained 0.63%.