US futures lower at start of week starring Nvidia
(Il Sole 24 Ore Radiocor) - Milano, 18 mag - US futures were lower at the start of a week dominated by Nvidia earnings as deadlock in the Middle East continues to sour sentiment.
Wall Street fell sharply on Friday as treasury yields jumped to their highest level in more than a year. The Dow ended down 1.1%, the S&P 500 fell 1.2% while the tech-heavy Nasdaq shed 1.5%.
With a peace deal between the US and Iran elusive, bond yields have come under pressure and oil prices have moved higher.
In his latest post on social media, US president Donald Trump said the clock was ticking for Tehran. 'they better get moving, FAST, or there won't be anything left of them. TIME IS OF THE ESSENCE!' he said.
Closure of the Strait of Hormuz, the narrow waterway that handled roughly a fifth of global energy flows before the conflict, has crimped global energy supplies, rekindling inflationary pressure.
Brent oil today is up 1% at more than 110 dollars per barrel.
Investors meanwhile gear up for another busy week of earnings with AI giant Nvidia the focus on Wednesday followed by a string of retailers later in the week, including Walmart and Target.
On the stocks front, shares in Dominion Energy were up 13% in premarket trade following reports the utility is in talks to be bought by NextEra Energy.
Futures on the Dow Jones were down 329.00 points, or 0.66%, S&P 500 futures were down 33.50 points, or 0.45%, while.
futures on the Nasdaq were down 131.00 points, or 0.45%.
(RADIOCOR) 18-05-26 13:50:45 (0311) 5 NNNN