Late Monday, U.S. stock futures traded lower and oil prices eased as investors weighed President Donald Trump’s comments on Russia, Iran and the outlook for ongoing conflicts ahead of high-profile White House meetings.
Dow Futures Slip as Markets Monitor Geopolitical Developments
Dow futures fell 56.00 points, or 0.11%, to 52,326.00, while S&P 500 futures declined 12.25 points, or 0.16%, to 7,436.00. Nasdaq 100 futures lost 118.25 points, or 0.42%, to 28,071.75 as of around 8:31 p.m. EDT.
In commodities, WTI crude oil fell 1.07% to $81.73 per barrel, while Brent crude declined 0.84% to $87.62 per barrel. Natural gas futures slipped 0.76% to $2.746 per MMBtu.
Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of currencies, stood at 101.501, down 0.01% on the day.
Asian markets traded lower, with South Korea’s KOSPI falling 6.85% to 6,293.27 and Japan’s Nikkei 225 dropping 3.87% to 62,419.69.
Trump Dismisses Russia-Iran Intelligence Concerns
Speaking to reporters aboard Air Force One on Monday, Trump played down allegations by Ukrainian President Volodymyr Zelensky that Russia has been providing Iran with intelligence on U.S. military bases, CNN reported.
“So they may be giving, but if they are, it hasn’t worked out,” Trump said, adding that any assistance “hasn’t had much impact because we’re knocking the hell out of them.”
He also said he does not believe Russia has been sharing intelligence with Iran “certainly not at a high level.”
Trump to Meet Zelensky And Netanyahu at White House
Trump is scheduled to host separate meetings with Zelensky and Israeli Prime Minister Benjamin Netanyahu on Tuesday, the report added.
A White House official told the publication that Trump’s meeting with Netanyahu will focus on the conflict involving Iran, negotiations with Lebanon and efforts to expand the Abraham Accords.
On Monday, Trump acknowledged that the two leaders are not in complete agreement on Iran but said, “We have a little difference, but pretty close.”
His meeting with Zelensky will center on the Russia-Ukraine peace process. “Now is the time to end the war,” a White House official told CNN.
Oil Traders Remain Wary Despite Ceasefire Pause
Trump also said the U.S. halted strikes on Iran after a request from Tehran but warned military action could resume if a new ceasefire agreement is not reached.
Despite the pause in direct hostilities, shipping activity through the Strait of Hormuz remains well below normal levels, while concerns persist over potential attacks by Iran-backed Houthi rebels in the Red Sea.
Deutsche Bank analysts said the Houthi threat raises “the prospect of simultaneous disruption to both Gulf and Red Sea export routes,” describing the current lull in fighting as a “welcome pause… but a fragile one.”
Semiconductor Stocks Reverse Sharply
The semiconductor stocks came under pressure on Monday. ASML Holding NV (NASDAQ:ASML) shares were down after a Shanghai-based company began mass-producing homegrown deep ultraviolet lithography machines.
SanDisk Corp. (NASDAQ:SNDK) and Micron Technology Inc. (NASDAQ:MU) fell as memory maker ChangXin Storage’s 466% Shanghai debut reignited fears of DRAM and NAND oversupply.
Nvidia Corp (NASDAQ:NVDA) shares fell amid reports that the company is in talks to guarantee up to $250 billion in financing for an OpenAI data center project. Its rival Advanced Micro Devices, Inc. (NASDAQ:AMD) also declined.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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