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S&P 500, Nasdaq futures edge up as investors weigh Mideast developments
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S&P 500, Nasdaq futures edge up as investors weigh Mideast developments
Apr 6, 2026 5:20 AM

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 dropped 1.4%, while ConocoPhillips and Occidental Petroleum 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 shares surged about 40% after the Financial Times reported on Sunday that Neurocrine Biosciences 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.

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