Traders work on the floor of the New York Stock Exchange during morning trading on March 10, 2026 in New York City.
Michael M. Santiago | Getty Images
Stock futures rose slightly as Wall Street tried to recover from another losing week as investors closely monitored oil prices and the latest developments in the U.S.-Iranian war.
Dow Jones Industrial Average Futures Added 153 points (0.3%). S&P500 Futures rose 0.3%; Nasdaq-100 Futures rose 0.3%.
The move comes after the S&P 500 fell for the third straight week, closing at its lowest level this year on Friday. The benchmark index ended the week down 1.6%, with the Dow and Nasdaq down about 2% and 1.3%, respectively.
Oil prices rose last week, with Brent crude above $100 per barrel for the first time since 2022. Since the war began, oil prices have soared as traffic through the Strait of Hormuz, a key shipping route, has been virtually halted.
In early trading, WTI crude oil rose 1% to $100.06 a barrel, while Brent crude rose 2.2% to $105.37 a barrel.
President Donald Trump ordered an attack on Iranian military facilities on Kharg Island on Friday. President Trump said the attack did not affect oil infrastructure, but that the United States would consider attacking oil infrastructure if Iran continued to close the strait.
President Trump told NBC over the weekend that Iran wants a deal but is not ready yet.
Perhaps helping sentiment a bit earlier in the week was a report in the Wall Street Journal that officials said the US would soon announce a coalition of nations to escort ships passing through the Strait of Hormuz.
However, despite geopolitical tensions, the decline in stock prices was relatively modest. The S&P 500 remains just 5% below its all-time high reached earlier this year.
“The apparent resiliency of the S&P 500 is attributable to the increasingly bullish industry analyst consensus forecast for earnings per share in 2026 and 2027,” said Ed Yardeni, president of Yardeni Research. “Apparently they didn’t get the memo about the possible negative effects of prolonging the war and closing the Straits.”
Investors will be keeping an eye on Nvidia, along with oil and war, as the semiconductor maker’s GTC conference begins Monday. The Fed is also scheduled to hold its second monetary policy meeting of the year, but no interest rate changes are expected.
