How S&P 500, Nasdaq, Dow Futures Are Moving As Trump’s ‘Economic D-Day’ On Iran, Nvidia Earnings Loom

• Last week, Trump said in a Truth Social post that the U.S. would be undertaking strong economic action against Iran, the toughest against any country so far.
• Federal Reserve Chairman Kevin Warsh is expected to speak at the Jackson Hole Economic Policy Symposium, to be held from August 27–29, where he is likely to offer some insights on longer-term U.S. yields and the central bank’s path forward. 
• The week will also include earnings from top AI firms and other tech companies, including Nvidia, Salesforce and Marvell Technologies. 

U.S. stock futures edged higher overnight late Sunday as investors keep their eyes peeled for updates on the U.S.-Iran war after President Donald Trump warned of a ‘CRUSHING ECONOMIC OPERATION’ against Iran last week.

Meanwhile, U.S. Treasury Secretary Scott Bessent said in a post on X that ‘an economic D-Day’ was about to dawn on Iran on Monday, when Washington is expected to announce fresh sanctions against the Middle Eastern country. 

Dow futures climbed 0.04%, while the S&P 500 futures were also up 0.05%. Meanwhile, Nasdaq-100 futures declined 0.07% at 10:31 PM EDT.  

On Friday, all three benchmark indexes closed higher. The Dow Jones Industrial Average led the climb, adding more than 500 points to close up 0.98%. Meanwhile, the S&P 500 and the Nasdaq Composite also ended the session higher, climbing 0.43% each. 

The benchmark indexes ended the week lower, with the S&P 500 and Nasdaq snapping three consecutive weeks of gains. 

Key US Market Drivers

Tensions between the U.S. and Iran, and their implications for oil prices, are likely to be the week's dominant narratives. 

Last week, Trump said in a Truth Social post that the U.S. would be undertaking strong economic action against Iran, the toughest against any country so far. “This will be Economic Warfare and Isolation on an unprecedented scale,” he said. 

Meanwhile, U.S. Treasury Secretary Scott Bessent said in a post over the weekend that, “We are now entering the endgame. At dawn begins an economic D-Day — the single greatest financial offensive ever marshaled against an adversary.”

“The Islamic Republic has subsisted by dressing extortion as security guarantees. It has drawn strength from a calculus that regards Iranian retaliation as certain and American enforcement as negotiable. Under President Trump, that era is over. And those who fear the danger of defying Tehran ought not to discount the cost of testing Washington,” he added. 

Bessent is set to announce the sanctions on Monday, adding in the post that “The President has created the conditions to leverage every agency, every authority and action many assumed we would never summon. Our objective is to sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone.”

Meanwhile, U.S. Treasury yields continued to climb last week, with inflation concerns mounting yet again. The U.S. 30-year Treasury yield climbed to 5.273% on Friday and was trading at 5.252% at the time of writing. Meanwhile, the U.S. 10-year Treasury yield was trading at 4.714%. 

“The rise in bond yields and the Treasury’s purchases all set the stage for what will be a very important Jackson Hole speech next week, which gives Warsh the opportunity to talk to markets, which are in need of more clarity on the central bank’s plans,” Paul Stanley, Arca managing director and founding advisor, reportedly told CNBC. 

This week, Federal Reserve Chairman Kevin Warsh is expected to speak at the Jackson Hole Economic Policy Symposium, to be held from Aug. 27-29, where he is likely to offer some insights on longer-term U.S. yields and the central bank’s path forward. 

Global oil prices were lower at the time of writing. Brent crude futures expiring in October were down more than 2%, trading at $92.35 a barrel at the time of writing. Meanwhile, WTI crude futures expiring in October were trading at $85.15 per barrel.

The week will also include earnings from top artificial intelligence firms and other tech companies. Nvidia Corp. (NVDA), Salesforce Inc. (CRM), and Marvell Technologies Inc. (MRVL) are among the top firms expected to post their quarterly results this week. 

Trending Stocks To Watch 

SELLAS Life Sciences Group Inc. (SLS): The company’s shares were in focus after it jumped more than 15% last week and continued to gain overnight as its pivotal Phase 3 REGAL trial of galinpepimut-S (GPS) in acute myeloid leukemia (AML) is approaching final results. 

Capricor Therapeutics Inc. (CAPR): The biotechnology company’s shares jumped more than 4% in the overnight session late Sunday after it said last week that it is updating its FDA filing with 24-month functional data for deramiocel following a July advisory review. Capricor Therapeutics reported Phase 3 HOPE-3 results for deramiocel earlier in 2026. 

Alibaba Group Holding Ltd. (BABA): The Chinese technology company gained attention on Stocktwits as shares plunged more than 4% after veteran investor Michael Burry exited the company and said over the weekend that he wouldn’t return to Alibaba after it disclosed a $10.2 billion share placement to fund its AI ambitions.

Intuit Inc. (INTU): The financial technology company jumped onto the retail radar ahead of its fourth-quarter (Q4) earnings results expected later this week. 

Other Market Trends 

Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY) and the SPDR Dow Jones Industrial Average ETF Trust (DIA) traded higher at the time of writing, while the Invesco QQQ Trust (QQQ) was in the red. 

The iShares 20+ Year Treasury Bond ETF (TLT) was up 0.29% amid ‘bullish’ sentiment.

Asian markets were trading mixed at the open on Monday. South Korea's KOSPI, China’s SSE Composite and Japan’s Nikkei 225 were all trading lower at the open. Meanwhile, Australian stocks were trading in the red. 

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