* Futures: Dow down 0.13%, S&P up 500 0.07%, Nasdaq up
0.31%
* Energy stocks dip tracking oil prices
* US nonfarm payroll jump the most in 15 months in March
* Soleno Therapeutics ( SLNO ) jumps after report Neurocrine nears
buyout
(Updates prices, adds comment)
By Purvi Agarwal and Avinash P
April 6 (Reuters) - Futures tracking the S&P 500 and the
Nasdaq ticked up on Monday after the main indexes marked their
biggest weekly jump in four months in the last session, as
investors assessed prospects of an end to the Middle East
conflict.
The U.S. and Iran received a framework of a plan to end the
hostilities, a day after President Donald Trump threatened to
rain "hell" on Tehran if it did not make a deal.
Still, investors drew some comfort from an Axios report,
citing four sources with knowledge of the talks, that the U.S.,
Iran and a group of regional mediators are discussing the terms
for a potential 45-day ceasefire.
Caution lingered as market optimism around prior efforts to
resolve the conflict faltered amid conflicting remarks by the
U.S. and Iran.
Oil prices fell on Monday and U.S. energy stocks were a
little lower in premarket trading. Halliburton ( HAL ) dropped
1.4%, while ConocoPhillips ( COP ) and Occidental Petroleum ( OXY )
fell 1.1% each.
Wall Street's main indexes ended mixed on Thursday but
posted their first weekly gains in six as the prospects of an
end to the conflict soothed investor nerves.
"The market continues to show signs of life following weeks
of pessimism and exhaustion, with battered technicals and
defensive positioning creating an opportunity for a relief
rally," said Mark Hackett, chief market strategist at
Nationwide.
"(But) it is unlikely that the market can sustain a steady
path higher until there are tangible signs of de-escalation and
normalization of the energy markets, but sideways volatility is
preferred to a continual march lower."
Trading volumes on Monday were expected to be thin as many
markets in Europe and Asia are closed for public holidays.
At 7:13 a.m. ET, Dow E-minis were down 62 points, or
0.13%, S&P 500 E-minis were up 4.5 points, or 0.07%, and
Nasdaq 100 E-minis were up 75 points, or 0.31%.
Prolonged closure of the Strait of Hormuz, an essential
chokepoint in global oil trade, has weighed on energy prices and
has reinforced inflation fears.
This week, investors will parse a slew of domestic data
including inflation readings to see if the price pressures have
trickled into the economy.
These would follow Friday's data that showed U.S. job growth
rebounded more than expected in March, with the increase in
nonfarm payrolls the biggest in 15 months.
The Institute for Supply Management's non-manufacturing PMI
for March will be watched later in the day.
Money market participants are not pricing in any easing from
the central bank this year, compared to two cuts they had
expected before the war broke out, per CME Group's FedWatch
Tool.
Among premarket moves, Soleno Therapeutics ( SLNO ) shares
surged about 40% after the Financial Times reported on Sunday
that Neurocrine Biosciences ( NBIX ) was nearing a deal to
acquire the rare genetics drugmaker for more than $2.5 billion.
U.S.-listed shares of cryptocurrency-linked firms rose, with
Coinbase and Strategy up 3.2% and 4%,
respectively, as bitcoin prices edged higher.