The Middle East conflict is expected to take a new turn, with Qatar taking a lead in diplomatic efforts to calm down the situation in coordination with the U.S. and Iran.
A slew of central bank meetings, including the U.S. Federal Reserve’s policy meeting set for Tuesday and Wednesday.
In the Asian trading hours, oil prices fell more than 2 percent. Brent crude futures slumped 2.1 percent to $114.29 a barrel. WTI crude futures plummeted 2.5 percent to $100.73 a barrel.
Gold edged higher. Spot gold rose half a percent to $4,017.37 an ounce. U.S. gold futures were up 0.6 percent at $4,030.75.
Early signs from the U.S. Futures Index suggest that Wall Street might bounce back to open positive.
As of 7.55 am ET, the Dow futures were up 223.00 points, the S&P 500 futures were adding 28.75 points and the Nasdaq 100 futures were progressing 171.25 points.
The U.S. major averages ended Friday in negative territory. The Dow slumped 652.82 points or 1.2 percent to 52,215.16. The S&P 500 also fell 39.75 or 0.5 percent to a one-month closing low of 7,623.68, while the Nasdaq slipped 53.52 points or 0.2 percent to 25,955.34.
On the economic front, the Dallas Fed Manufacturing Survey for October will be issued at 10.30 am ET. The consensus is 7.0, while it was up 9.8 in the prior month.
The Chicago Fed Fed National Activity Index for September will be released at 8.30 am ET. The consensus is for a decline of 0.1, while it was down 0.04 in the prior month.
The 2-year Treasury Note auction will be held at 1.00 pm ET.
Asian stocks ended mixed on Monday. China’s Shanghai Composite index edged up 0.19 percent to 3,697.52. Hong Kong’s Hang Seng index rose 0.51 percent to 23,211.81.
Japanese markets fell at the close. The Nikkei average dropped 0.80 percent to 62,189.65 while the broader Topix index settled 0.18 percent higher at 3,972.98.
Australian markets ended slightly higher. The benchmark S&P/ASX 200 inched up 0.17 percent to 8,809.90. The broader All Ordinaries index closed 0.23 percent higher at 8,926.60.
Business News
Wall Street Set To Open Moderately Higher On Middle East De-escalation Hopes
2026-10-26 12:16:34
