* Futures: Dow down 0.06%, S&P up 500 0.11%, Nasdaq up
0.39%
* Energy stocks dip tracking oil prices
* US nonfarm payroll jump the most in 15 months in March
* Soleno Therapeutics ( SLNO ) jumps on Neurocrine's $2.9 bln
buyout deal
(Updates before markets open)
By Purvi Agarwal and Avinash P
April 6 (Reuters) - The S&P 500 and the Nasdaq were on
track for a higher open on Monday after Wall Street indexes
marked their biggest weekly jump in four months in the last
session, while 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, though Iran rejected any immediate move to reopen
the Strait of Hormuz. U.S. President Donald Trump set a Tuesday
deadline to reopen the waterway.
Still, investors drew some comfort from an Axios report that
cited sources familiar with the talks, that the U.S., Iran and a
group of regional mediators are discussing the terms for a
potential 45-day ceasefire.
Oil prices fell on Monday and U.S. energy stocks were a
little lower in premarket trading. ConocoPhillips ( COP ) and
Occidental Petroleum ( OXY ) fell about 1% each.
"The stock market is a very good barometer of future
activities ... it would imply that investors are at least
expecting a recovery from the selloff that we experienced," said
Sam Stovall, chief investment strategist at CFRA Research.
"Wall Street is willing to take a wait-and-see attitude, but
is betting that the outcome is positive."
Trading volumes on Monday were expected to be thin as many
markets in Europe and Asia are closed for public holidays.
At 8:41 a.m. ET, Dow E-minis were down 26 points, or
0.06%, S&P 500 E-minis were up 7 points, or 0.11% and
Nasdaq 100 E-minis were up 95 points, or 0.39%.
The CBOE Volatility Index, also known as Wall
Street's fear gauge, ticked up 1.07 points to 24.94 after three
sessions of declines.
"That's the market saying 'we think he blinks again - but
we're buying protection just in case'. This is the classic Trump
deadline extension trade, not genuine optimism," said Pete
Mulmat, head of brokerage strategy and operations at IG North
America, on why stocks and the VIX index were up simultaneously.
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.
Meanwhile, the 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 after Friday's data showed U.S. job
growth rebounded more than expected in March.
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 33% after Neurocrine Biosciences ( NBIX ) agreed to
acquire the rare-disease drugmaker for $2.9 billion in cash.
U.S.-listed shares of cryptocurrency-linked firms rose, with
Coinbase and Strategy up 3.2% and 4%,
respectively, as bitcoin prices edged higher.