Dow Futures Edge Up As Israel-Iran Conflict Spares Oil Capacity: US Steel, Tesla, Victoria’s Secret, Sarepta Among Stocks To Watch

U.S. stocks appear set for a positive opening on Monday as the ongoing Israel-Iran conflict spared crude oil capacity over the weekend, resulting in oil prices simmering down.

Crude oil prices surged by nearly 13% on Friday as Israel and Iran broadened their strikes. This threatened to take out Iran’s oil capacity and strain the global supply.

While Dow Jones futures gained 0.41% at the time of writing, the S&P 500 futures rose 0.48%, and the tech-heavy Nasdaq 100’s futures gained 0.57%. Futures of the Russell 2000 index were up 0.91%.

Meanwhile, the SPDR S&P 500 ETF Trust (SPY) gained 0.52%, while Invesco QQQ Trust (QQQ) edged up by 0.59% on Monday morning.

Bitcoin (BTC) rose 1.54% in the past 24 hours.

Asian markets ended Monday’s trading session on a largely positive note, with the KOSPI leading gains at 1.77%, followed by the Nikkei 225, which rose 1.25%.

The Hang Seng index gained 0.7%, while the Shanghai Composite closed 0.35% higher.

The TWSE Capitalization Weighted Stock index fell 0.10%.

Stocks To Watch

• United States Steel Corp. (X): U.S. Steel shares surged 5.22% in pre-market trading on Monday after President Donald Trump approved the $14.9 billion U.S. Steel-Nippon Steel deal.
• Tesla Inc. (TSLA): Tesla shares were trading 2% higher in the pre-market session as the company gears up to launch its robotaxi service in Austin, Texas, later this week.
• Victoria’s Secret & Co. (VSCO): Victoria’s Secret shares surged over 3% during Monday’s pre-market trading session after activist investor Barington Capital built a stake in the company.
• Sarepta Therapeutics Inc. (SRPT): Sarepta’s stock plunged over 41% in the pre-market session after the death of the second patient receiving its gene therapy.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Also See: Trump Approves Nippon's $14.9B Deal For US Steel — But Retail Sentiment Stays Bearish