Dow Jones set to open flat as Iran talks and bank earnings in focus
US stocks are pointing to a mixed open as investors weigh fresh developments in US-Iran talks alongside the start of a busy earnings week.
Futures for the Dow Jones are slightly in the red, while S&P 500 futures are up 0.2% and those for the Nasdaq-100 have gained 0.4%.
Wall Street ended Monday higher on hopes that US-Iran talks may resume and optimism around earnings. The Nasdaq rose 1.2%, the S&P 500 gained 1%, both now back above pre-conflict levels, while the Dow added 0.6%.
US oil prices softened overnight and have remained flat in the early hours, with West Texas Intermediate crude down 1.4% at $97.71 a barrel, while the global Brent benchmark has edged higher in European trading.
After talks with Iran broke down over the weekend, Vice President JD Vance said “the ball is in the Iranian court”, adding that President Donald Trump “would be very happy if Iran was treated like a normal country”.
The comments come as markets continue to assess the fallout from the conflict, with the International Energy Agency saying that global oil supply fell by 10.1 million barrels per day in March, the largest disruption on record, and warned that demand could contract this year.
Attention now turns to results from JPMorgan Chase, Wells Fargo, Citigroup, BlackRock and Johnson & Johnson.
JPMorgan Chase and Citigroup shares were down 0.2-0.5% in premarket trade despite beating top- and bottom-line expectations for first-quarter results.
Wells Fargo was down 2.1% after a revenue miss and disclosure of $36.2 billion of exposure to private credit firms.