S&P 500, Dow, Nasdaq Futures Slip After Trump Says ‘Clock Is Ticking’ For Iran: NOW, IBRX, ONDS, BMNR Stocks In Focus

• Dow Jones futures, S&P 500 futures and Nasdaq 100 futures all declined in the overnight session heading into Monday.
• Oil futures climbed higher in the overnight session, with Brent crude futures expiring in July up about 2.21%, and WTI crude futures expiring in June up 2.83% at the time of writing.
• Asian markets were also trading lower at the open on Monday.

U.S. stock futures slipped in the overnight trading session on Sunday after President Donald Trump said that time is running out for Iran, reigniting fears of renewed tension in the Middle East and continued disruptions to global oil supplies.

Oil prices jumped following the social media post from the President.

However, Dow Jones futures were 0.79% lower, the S&P 500 futures were down 0.70% and Nasdaq 100 futures declined 0.93% as of 9.30 p.m ET.  

Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY), Invesco QQQ Trust (QQQ), and the SPDR Dow Jones Industrial Average ETF Trust (DIA) were all edging lower at the time of writing. Meanwhile, retail sentiment on Stocktwits for all three was in the green.

How Did US Markets Fare?

On Friday, benchmark indexes closed lower amid surging bond yields and rising inflation concerns. The Dow Jones index was down more than 1% at close, while the S&P 500 and Nasdaq Composite slipped 1.24% and 1.54% lower respectively.

US Market Drivers

Markets turned cautious on the situation in Iran after Trump said in a post on Truth Social on Sunday, "For Iran, the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them. TIME IS OF THE ESSENCE!"

The comments come shortly after the president’s visit to China, a country with close ties to Tehran. Investors were hoping for a significant breakthrough after the visit.

Meanwhile, Iran’s Defense Ministry spokesman has reportedly said that the country’s armed forces are “fully prepared to confront any new potential attack by the U.S. and the Israeli regime against the country.”

The conflict between the U.S. and Iran have stayed high, despite a ceasefire announced in early April. The U.S. has continued to blockade Iranian ports, even as the critical Strait of Hormuz has stayed shut since the conflict began.

Apart from this, markets will be watching quarterly results from large corporations, including Nvidia Corp. (NVDA) and other major American retailers.

Trending Stocks To Watch

ServiceNow Inc. (NOW): Shares of the software company were up more than 4% in Sunday’s overnight session after President Trump disclosed a significant position in the firm. ServiceNow also completed a $4 billion debt raise.

ImmunityBio Inc. (IBRX): The immunotherapy company climbed about 1% after it announced an exclusive U.S. deal with Japan to develop, import, and commercialize intravesical Tokyo-172 strain of BCG.

Ondas Inc. (ONDS): The unmanned systems and private wireless solutions company was on the retail radar amid its beat-and-raise first-quarter results. Shares declined about 3% overnight as dilution concerns remained over its recent plans of expanding authorized shares from 800 million to 1.2 billion.

Bitmine Immersion Technologies Inc. (BMNR): The company garnered retail attention amid the management's decision to scale back weekly Ethereum accumulation to manage concentration risk. Chairman of the company, Tom Lee, said on Friday that the mainstream adoption of cryptocurrencies reflects a structural shift toward blockchain-powered finance, and was not a "boomer moment."

Broader Market Trends

Oil futures climbed higher in the overnight session heading into Monday. Brent crude futures expiring in July were up about 2.21%, trading at around $111.67 a barrel, while WTI crude futures expiring in June were 2.83% higher, at $108.40 a barrel at the time of writing.

Meanwhile, treasury yields on the benchmark 10-year were at 4.629%, staying elevated after hotter-than-expected U.S. inflation data.

Economist Steve Hanke noted that the G7 government bond yields, sovereign debt issued by a group of seven countries, including the United States, have surged to their highest levels in more than 20 years.

“Rising oil prices driven by the U.S.-Israeli war on Iran, coupled with massive fiscal deficits, are sending yields higher. The bond vigilantes are riding again,” he said in a post on X. Meanwhile, gold declined to trade around $4,510.56 an ounce.

Asian markets were also trading lower at the open on Monday, with the KOSPI, Nikkei 225, and the SSE Composite index declining at the time of writing. Australian stocks were also falling.

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