June S&P 500 E-Mini futures (ESM26) are down -0.12%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.10% this morning, pointing to a lower open on Wall Street as oil prices surged amid renewed tensions in the Middle East.
Futures on the S&P 500 and Nasdaq 100 fell as much as 0.5% on Monday after Iran’s Fars news agency reported that two missiles struck an American patrol boat in the Strait of Hormuz that had ignored warnings. Stock index futures trimmed most of the declines after a U.S. Central Command spokesperson denied the report. Still, the price of WTI crude was up over +3% after initially spiking more than +5%. U.S. President Trump earlier said that the U.S. would start escorting certain neutral vessels out of the Strait of Hormuz beginning Monday.
