Nasdaq, S&P 500 Futures Slip As Hormuz Blockade Escalates Tensions: Why BATL, INTC, PLTR, IDYA Are On Traders' Radar Today

• Talks between the U.S. and Iran in Pakistan ended without a deal, followed by President Donald Trump ordering a naval blockade targeting shipping linked to Iranian ports.
• Crude surges above $100, fueling a potential rotation into energy and defense stocks.
• Big bank earnings this week, alongside key economic data, are adding to a volatile setup. 

U.S. stock futures were under pressure early Monday amid escalating geopolitical tensions over the weekend. U.S.-Iran talks in Pakistan ended without a deal, followed by President Donald Trump ordering a naval blockade of the Strait of Hormuz, effective at 10 AM ET on Monday, sending crude prices surging back above $100. Reports suggest the U.S. could consider renewed military strikes, while Iran continues to push demands around nuclear policy and control over key waterways.

As of 4:00 a.m. ET on Monday, Dow futures fell 0.5%, S&P 500 futures declined 0.6%, Nasdaq futures were down 0.7%, and Russell 2000 futures slumped 1%.

Retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, and the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq-100 Index, has been languishing at ‘extremely bearish’ amid high trading volume. 

Trending Stocks To Watch

A massive week for earnings kicks off with Goldman Sachs (GS) reporting this morning. 

With crude oil prices rising again, watch out for oil-related stocks (USO, BATL, EONR, XOM, CVX, TPET) in trade today, and a potential rotation into defense stocks as well (AVAV, LMT).

Software stocks such as Palantir (PLTR) and ServiceNow (NOW) remain on the retail radar amid fears that AI agents will cannibalize the traditional software model. Meanwhile, Cathie Wood’s ARK Investment Management bought about 85,500 PLTR shares on Friday.

Intel (INTC) was among the most overbought stocks last week. However, its 14-day Relative Strength Index (RSI) above 70 suggests a pullback may be looming. Jefferies has raised its price target to $60 from $45 and maintains a Hold rating on the shares.

Sandisk (SNDK): Shares rose nearly 2% in early pre-market trade after being tapped to replace Atlassian (TEAM) in the NASDAQ 100, effective April 20.

Amid biotech stocks, Ideaya Biosciences (IDYA) is surging nearly 20% in early pre-market trade ahead of critical Phase 2/3 cancer drug data due at 8:00 AM ET today. Regeneron (REGN) and Sanofi earned EU approval for Dupixent to treat chronic spontaneous urticaria in children (ages 2-11). 

Other tickers trending on Stocktwits at the time of writing included Strategy (MSTR), Lightwave Logic (LWLG), Clene (CLNN), and Avis Budget Group (CAR). 

Other Catalysts To Watch

On the economic front, traders will be watching for the release of March existing home sales data. 

On earnings radar, watch out for quarterly reports from Goldman Sachs (GS), Iveda Solutions Inc (IVDA), and Fastenal (FAST) before the bell. Meanwhile, ZENA, XTI Aerospace Inc. (XTIA), Ozop Energy Solutions (OZSC), and Dark Pulse Inc (DPLS), among others, report after market close today. 

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