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* Futures down: Dow 0.42%, S&P 500 0.53%, Nasdaq 0.64%
April 13 (Reuters) - Wall Street futures slipped on
Monday, starting the week on a subdued note, after talks between
the U.S. and Iran over the weekend failed to deliver a deal to
end the war.
The declines indicate that any relief from the ceasefire
reached last week could be fleeting, and underscore the risks of
leaning too heavily into bullish bets when the geopolitical
environment remains uncertain.
The U.S. military is hours away from beginning a blockade of
all maritime traffic entering or leaving Iranian ports and
coastal areas, in a move aimed at ramping up pressure on Tehran.
"For the Iranians who up to now have felt that time is on
their side, it puts pressure on their allies to encourage Iran
to come to the table to make a deal," said William Blair's macro
analyst Richard de Chazal.
As of 04:25 a.m. ET, Dow E-minis were down 200
points, or 0.42%. Nasdaq 100 E-minis declined 163
points, or 0.64%, while S&P 500 E-minis fell 0.53%, or 36
points.
The shift in sentiment was also visible across other asset
classes, with investors gravitating toward the safe-haven U.S.
dollar while trimming exposure to equities across geographies.
Oil prices jumped back above $100 a barrel, aggravating
inflation worries after data last week showed that a record
surge in the cost of gasoline and diesel prompted the biggest
increase in consumer prices in nearly four years in March.
Investors are also focused on the start of the U.S. earnings
season, with Goldman Sachs ( GS ) scheduled to report before the
bell. Commentary from the investment banking giant's executives
will be parsed for clues on how the Middle East conflict, now in
its seventh week, is impacting the economy and the capital
markets.
Goldman shares were marginally higher in premarket trading
but outperformed most of its Wall Street peers.
Travel-related stocks fell, with carriers such as Delta Air
Lines ( DAL ) and JetBlue Airways ( JBLU ) down 2.2% and 3.8%,
respectively, on concerns that higher oil prices might push up
fuel costs.
Energy stocks gained, with Chevron ( CVX ), Exxon Mobil ( XOM )
and ConocoPhillips ( COP ) climbing 2.3%, 2.6% and 2.8%,
respectively.