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What is the story about?
US stocks opened higher on Monday, July 20, with semiconductor stocks leading gains ahead of a crucial week of earnings from major technology companies.
The Dow Jones Industrial Average rose 0.4%, the S&P 500 gained 0.6%, while the tech-heavy Nasdaq Composite advanced about 1%.
Chipmakers rebounded after a weak performance last week, when the sector came under pressure amid concerns over artificial intelligence-related spending. Investors are now awaiting earnings from Big Tech companies for fresh signals on AI investment trends and corporate profitability.
Meanwhile, oil prices gave up earlier gains as hopes of renewed diplomacy between the US and Iran helped ease concerns over supply disruptions. Brent crude traded near $88 a barrel, while US benchmark WTI hovered above $81 after both benchmarks briefly surged following the latest military exchanges between the two countries.
Among individual stocks, AMC Entertainment and Domino's Pizza moved higher after reporting quarterly earnings. Investors will also keep a close watch on developments in the West Asia and the earnings season for further direction in the broader market.
Futures edge higher as investors track Iran tensions, earnings week
US stock futures moved higher on Monday, July 20, as investors tracked developments in the US-Iran conflict, a pullback in oil prices, and looked ahead to a key week of Big Tech earnings. Futures linked to the S&P 500 rose 0.5%, while Nasdaq-100 futures gained around 1%. Dow Jones Industrial Average futures were up 180 points, or 0.4%.
Chipmakers provided support to equity futures after coming under pressure last week, when semiconductor stocks dragged the broader market lower.
Oil prices eased after briefly crossing $90 a barrel as traders assessed the latest developments in West Asia. Brent crude futures had jumped as much as 3.8% to above $91 a barrel, while US West Texas Intermediate (WTI) crude rose nearly 3% to cross $84 before retreating to around $81 a barrel.
The move came after another escalation in the US-Iran conflict over the weekend . The US carried out its ninth consecutive day of attacks, while Iran retaliated with strikes on US allies in the region, including Kuwait. The two sides remain far apart on a ceasefire agreement, even as casualties from the conflict continue to rise.
Oil prices later pared gains after Iran said mediators, including Pakistan and Qatar, had reached out to Tehran’s leadership, raising hopes of possible diplomatic efforts.
Wall Street ended last week lower, weighed down by weakness in chip stocks. The S&P 500 declined 1.6%, while the Nasdaq Composite dropped 2.9% and the Dow Jones Industrial Average fell 0.9%. The VanEck Semiconductor ETF (SMH) also recorded its third weekly decline in four weeks, falling nearly 9%.
US-Iran War LIVE Updates: Iran in 'full-scale war' with US, says President Pezeshkian
The Dow Jones Industrial Average rose 0.4%, the S&P 500 gained 0.6%, while the tech-heavy Nasdaq Composite advanced about 1%.
Chipmakers rebounded after a weak performance last week, when the sector came under pressure amid concerns over artificial intelligence-related spending. Investors are now awaiting earnings from Big Tech companies for fresh signals on AI investment trends and corporate profitability.
Meanwhile, oil prices gave up earlier gains as hopes of renewed diplomacy between the US and Iran helped ease concerns over supply disruptions. Brent crude traded near $88 a barrel, while US benchmark WTI hovered above $81 after both benchmarks briefly surged following the latest military exchanges between the two countries.
Among individual stocks, AMC Entertainment and Domino's Pizza moved higher after reporting quarterly earnings. Investors will also keep a close watch on developments in the West Asia and the earnings season for further direction in the broader market.
Futures edge higher as investors track Iran tensions, earnings week
US stock futures moved higher on Monday, July 20, as investors tracked developments in the US-Iran conflict, a pullback in oil prices, and looked ahead to a key week of Big Tech earnings. Futures linked to the S&P 500 rose 0.5%, while Nasdaq-100 futures gained around 1%. Dow Jones Industrial Average futures were up 180 points, or 0.4%.
Chipmakers provided support to equity futures after coming under pressure last week, when semiconductor stocks dragged the broader market lower.
Oil prices eased after briefly crossing $90 a barrel as traders assessed the latest developments in West Asia. Brent crude futures had jumped as much as 3.8% to above $91 a barrel, while US West Texas Intermediate (WTI) crude rose nearly 3% to cross $84 before retreating to around $81 a barrel.
The move came after another escalation in the US-Iran conflict over the weekend . The US carried out its ninth consecutive day of attacks, while Iran retaliated with strikes on US allies in the region, including Kuwait. The two sides remain far apart on a ceasefire agreement, even as casualties from the conflict continue to rise.
Oil prices later pared gains after Iran said mediators, including Pakistan and Qatar, had reached out to Tehran’s leadership, raising hopes of possible diplomatic efforts.
Wall Street ended last week lower, weighed down by weakness in chip stocks. The S&P 500 declined 1.6%, while the Nasdaq Composite dropped 2.9% and the Dow Jones Industrial Average fell 0.9%. The VanEck Semiconductor ETF (SMH) also recorded its third weekly decline in four weeks, falling nearly 9%.
US-Iran War LIVE Updates: Iran in 'full-scale war' with US, says President Pezeshkian
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