Even after eight months, the conflict between the U.S. and Iran is continuing. The war situation has disrupted the energy supply across the globe, there is still no clue about the end of the conflict. Iranian officials and Qatari mediators are continuing diplomatic talks to end the situation.
Asian shares finished mostly up, while European shares are trading broadly positive.
Oil prices tumbled on Monday. Brent crude futures slumped more than 4 percent to $108.80 a barrel while WTI crude futures were down 4.2 percent at $99.71.
Initial signs from the U.S. Futures Index suggest that Wall Street might open higher on Monday.
As of 7.15 am ET, the Dow futures were gaining 212.00 points, the S&P 500 futures were up 33.25 points and the Nasdaq 100 futures were progressing 235.25 points.
The U.S. major averages all moved notably lower on Friday. The Nasdaq plunged 747.73 points or 2.9 percent to 25,437.00, the S&P 500 tumbled 140.32 points or 1.8 percent to 7,580.07 and the Dow slumped 572.25 points or 1.1 percent to 51,770.31.
On the economic front, the PMI Manufacturing Final for October will be released at 9.45 am ET. The consensus is 56.0, while it was up 56 in the prior month.
The ISM Manufacturing Index for October will be issued at 10.00 am ET. The consensus is 54.5, while it was up 54.5 in September.
The Construction Spending for September will be published at 10.00 am ET. The consensus is 0.5 percent, while it was up 0.9 percent in the prior month.
Austan Goolsbee will moderate a discussion before the Financial Markets Group Fall Conference at 11.15 am ET.
Asian stocks ended mixed on Monday. China’s Shanghai Composite index surged 1.08 percent to 3,638.03. Hong Kong’s Hang Seng index rose 0.42 percent to 23,393.32.
Japanese markets ended slightly lower. The Nikkei average dropped 0.33 percent to 63,081.66 while the broader Topix index settled 0.88 percent lower at 3,930.38.
Australian markets ended lower. The benchmark S&P/ASX 200 fell 0.58 percent to 8,856.50. The broader All Ordinaries index ended down 0.53 percent at 8,977.20.
Across the Tasman, New Zealand’s benchmark S&P/NZX-50 index fell 0.71 percent to 13,698.63.
Market Analysis
Wall Street Aims To Open Positive
2026-11-02 12:30:29
