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LivestreamMenuTraders work on the floor of the New York Stock Exchange (NYSE) during Pershing Square Capital Management LP’s initial public offering (IPO) in New York, US, on Wednesday, April 29, 2026. Michael Nagle | Bloomberg | Getty Images
U.S. equity futures were flat Monday evening after higher oil prices weighed on the major indexes and investors looked ahead to the week in corporate earnings.
Futures tied to the Dow Jones Industrial Average added 9 points. S&P 500 futures and Nasdaq 100 futures each lost about 0.1%.
In regular trading, the Dow dropped 307.16 points, or 0.59%, weighed down by a 2% in decline in Apple shares. The broad market S&P 500 fell 0.19%, and the tech-heavy Nasdaq Composite lost 0.05%.
Oil prices rose on Monday after President Donald Trump said in a Truth Social post that Tehran will pay for the deaths of three U.S. service members. U.S. crude futures closed up 0.9% at $83.23 a barrel, while international Brent settled 1.3% higher at $89.22. The climb in energy prices pulled the major averages lower on the day, even as semiconductor stocks clawed back some of last week’s steep losses. The VanEck Semiconductor ETF (SMH) posted a modest gain, aided by Micron Technology and Advanced Micro Devices.
“It looks to be a quiet week ahead for stock investors that could be dominated by technicals and geopolitical headlines,” said Callie Cox, chief market strategist at Ritholtz Wealth Management. “Sleepy summer weeks aren’t the time to draw conclusions about the world around us, but they could shake up market leadership going into a busy end of the summer.”
“The S&P 500 has now fallen below its 50-day moving average for two straight days, and semiconductors are struggling to emerge from a bear market,” she added. “Earnings are continuing to flow in, but they may provide more support than a catalyst to send stock prices higher given lofty expectations. Yields are knocking at the door of recent highs across the world, giving investors a tough choice between growth and income. This stock market is under a lot of pressure after an impressive three-month rally.”
As companies issue their latest earnings results this week, traders will be hunting for details on artificial intelligence spending. They’ll also be listening on earnings calls for confirmation that executives aren’t becoming more cautious about the second half of the year. Marquee names set to report this week include Alphabet, IBM and Tesla.
The challenge for investors is that the AI trade is facing a growing debate, according to tech investor Dan Niles, with some companies starting to question whether the massive spending on AI is translating into near-term returns.
“This is one of the most treacherous earnings seasons I’ve seen coming up in a long time,” he said on CNBC’s “Closing Bell: Overtime.” “You’ve got two very different trends going on, with token production up a ton, but your … ultimate end customers trying to cut their AI bill.”
General Motors, 3M and Chubb are among the highest interest earnings reports coming out on Tuesday.
11 Min Ago
Stock futures open flat
U.S. equity futures were little changed to begin trading on Monday night. Futures tied to the Dow Jones Industrial Average ticked up 12 points, or 0.02%. S&P 500 futures and Nasdaq 100 futures were down by 0.05% and 0.01%, respectively.
— Tanaya Macheel
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