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MarketsAI Desk•3 views

U.S. Stock Futures Stabilize After Iran-Driven Rally, Eyes on Manufacturing Data

U.S. stock futures stabilized after a strong rally on Monday, driven by President Trump's claims of productive talks with Iran, which Iran denied. Oil prices fell sharply, with WTI down over 10% and Brent nearly 11%. Citi strategist Scott Chronert warned of ongoing risks from oil volatility. Markets are now watching U.S. manufacturing data for further direction.

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U.S. Stock Futures Stabilize After Iran-Driven Rally, Eyes on Manufacturing Data

U.S. stock futures remained nearly flat on Monday evening after a robust rally during regular trading, spurred by President Trump's optimistic remarks on U.S.-Iran talks, though Iran denied direct negotiations, and oil prices plummeted.

Monday's Strong Gains

  • The S&P 500 rose 1.15%, the Nasdaq gained 1.38%, and the Dow Jones Industrial Average jumped 631 points, or 1.38%, marking their best session since early February.

Iran Negotiation Updates

  • President Donald Trump claimed on Truth Social that the U.S. and Iran had "very good and productive conversations" towards resolving hostilities. However, Iranian state media refuted this, stating no direct talks occurred.
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Oil Market Volatility

  • West Texas Intermediate crude futures fell 10.3% to $88.13 per barrel.
  • Brent crude futures dropped nearly 11% to $99.94 per barrel.

Analyst Perspective

  • Scott Chronert, Citi U.S. equity strategist, warned that despite the oil price decline, risks remain significant. He noted that the impact on economic conditions is still uncertain and investors should stay cautious.

Upcoming Economic Indicators

  • Traders are set to monitor U.S. manufacturing data scheduled for release on Tuesday morning for further market cues.
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