Initial signs from the U.S. Futures Index suggest that Wall Street might open positive on Monday, despite the developments in the Middle East conflict.
The Middle East situation might be hitting crude oil prices hard. In the Asian trading session, benchmark Brent crude futures traded above $109 a barrel.
Oil prices surged on Monday on fears of a wider regional conflict and fears of disruptions to the global supply chain. Gold prices crashed on Monday, while spot gold traded 4.7 percent lower at $4,279.27 an ounce. U.S. gold futures were down 6.4 percent at $4,315.54. The dollar strengthened.
As of 7.35 am ET, the Dow futures were gaining 846.00 points, the S&P 500 futures were up 116.25 points and the Nasdaq 100 futures were adding 453.50 points.
The U.S. major averages finished lower on Friday. The tech-heavy Nasdaq plummeted 443.08 points or 2.0 percent to 21,647.61, while the S&P 500 tumbled 100.01 points or 1.5 percent to 6,506.48 and the Dow slumped 443.96 points or 1.0 percent to 45,577.47.
On the economic front, the Chicago Fed National Activity Index for February will be issued at 8.30 am ET. In the prior month, the Index is up 0.18.
The Commerce Department’s Construction Spending for January will be published at 10.00 am ET. The consensus is 0.3 percent, while it was up 0.3 percent in the prior month.
The six-month and 3-month Treasury Bill auction will be held at 11.30 am ET.
Asian stocks plunged on Monday. China’s Shanghai Composite index tumbled 3.63 percent to 3,813.28. Hong Kong’s Hang Seng index slumped 3.54 percent to 24,382.47.
Japanese markets slumped. The Nikkei average settled 3.48 percent lower at 51,515.49. The broader Topix index fell 3.41 percent to 3,486.44.
Australian markets fell notably. The benchmark S&P/ASX 200 dropped 0.74 percent to 8,365.90. The broader All Ordinaries index ended 0.88 percent lower at 8,552.60.
Business News
Wall Street Aims To Bounce Back To Positive Zone At Open
2026-03-23 12:07:35
