Dow, S&P 500, Nasdaq Futures Slide As US-Iran Talks Hit Roadblock: Why AMD, POET, ATOM, NTLA Stocks Are In Focus

• Dow Jones futures were down 0.22%, S&P 500 futures fell 0.18%, and Nasdaq 100 futures declined 0.12% at the time of writing.
• Last week, the top U.S. stock indices closed mixed, after the S&P 500 and Nasdaq Composite climbed to record levels during Friday's normal trading session.
• Meanwhile, oil futures were trading higher on Sunday, with the June-expiring Brent crude futures up more than 2% to $107.52 a barrel.

U.S. stock futures were down late Sunday as negotiations between the White House and Iran seemed to stall after President Donald Trump called off a trip of his representatives to Pakistan to negotiate a peace deal.

As of 8.02 p.m. ET, Dow Jones futures were down 0.22%, S&P 500 futures fell 0.18%, and Nasdaq 100 futures declined 0.12%.  

Among the ETFs tracking the benchmark indexes, the SPDR S&P 500 ETF (SPY), Invesco QQQ Trust (QQQ), and SPDR Dow Jones Industrial Average ETF Trust (DIA), were all trading in red overnight. Meanwhile, retail sentiment on Stocktwits for SPY was in the ‘neutral’ territory, while that of QQQ and DIA was in the ‘bearish’ territory at the time of writing.

How Did US Markets Fare On Friday?

Last week, the top U.S. stock indices closed mixed, after the S&P 500 and Nasdaq Composite climbed to record levels during the normal trading session. The benchmark S&P 500 closed up 0.80% and the Nasdaq Composite was up 1.63% at close. Meanwhile, the Dow Jones Industrial Average lost nearly 80 points, closing down 0.16%.

What’s Driving US Markets?

The soft trade in Sunday’s overnight session follows comments from Trump over the weekend that confirmed the cancellation of talks between the U.S. and Iran, stoking concerns about hostilities in the critical Strait of Hormuz.

“I just canceled the trip of my representatives going to Islamabad, Pakistan, to meet with the Iranians. Too much time wasted on traveling, too much work!” Trump said in a post on Saturday on Truth Social.

The president added that the Middle Eastern country was grappling with leadership confusion. “Nobody knows who is in charge, including them. Also, we have all the cards; they have none! If they want to talk, all they have to do is call!!!” he added.

Trump’s envoys Steve Witkoff and Jared Kushner were expected to explore indirect talks with Iran in Pakistan, which has been mediating amid the conflict. Meanwhile, Iran has maintained that it will not enter negotiations with the U.S. as long as the blockade on Iranian ports continues.

Trending Stocks To Watch

Advanced Micro Devices Inc. (AMD): The chipmaker has been on a red-hot streak, gaining for 16 straight sessions and drawing strong retail interest amid a semiconductor rally. The stock also garnered attention on Wall Street after rival Intel posted strong first-quarter (Q1) results, demonstrating increased demand for central processing units.

Poet Technologies Inc. (POET): The photonic solutions company had its best week in two years, surging nearly 108% last week amid a partnership with Marvell Technologies, a strong business roadmap, and speculations over a deal with Amazon Web Services.

Atomera Inc. (ATOM): The semiconductor materials company was up nearly 10% overnight after closing up 39% on Friday, driven by optimism over its expanded collaboration with Synopsys to advance Gallium Nitride (GaN) device modeling that fueled the upward momentum.

Intellia Therapeutics Inc. (NTLA): The biotech company skyrocketed by 35.51% in the overnight session, boosted by anticipation for results from its clinical data on the late-stage trial of its experimental therapy in hereditary angioedema (HAE) expected on Monday.

Broader Market Trends

Meanwhile, oil futures were trading higher on Sunday, with the June-expiring Brent crude futures up more than 2%, at $107.52 a barrel at the time of writing. Meanwhile, WTI crude futures expiring in May also gained about 2%, trading at $96.29 a barrel.

Treasury yields on the benchmark 10-year were at 4.322%, while gold traded around $4,698.02 an ounce.

Asian markets were trading mixed at Monday’s open, with the KOSPI and Nikkei 225 higher, while the SSE Composite index was lower. Australian stocks also dipped lower at the open.

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