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Stock futures rise slightly after Dow posts third straight losing week

2 d ago

U.S. stock futures rose slightly on Sunday night after the Dow Jones Industrial Average posted a third straight losing week, as traders weighed escalating Middle East tensions and a Federal Reserve rate hike ahead of a key Trump-Xi summit. S&P 500 futures and Nasdaq-100 futures climbed 0.23% and 0.27%, respectively, while Dow futures rose 0.25%. The moves follow Iran-backed Houthi attacks on Saudi Arabia with missiles and drones on Saturday, prompting the U.S. State Department to warn Americans against travel to the Middle East amid renewed U.S.-Iran threats. The Dow slid 1.7% last week, its worst since March, while the S&P 500 fell 0.1% and the tech-heavy Nasdaq gained 0.7%. In Asia, South Korea’s Kospi added 0.85% at open and the Kosdaq rose 0.43%, but Australia’s S&P/ASX 200 fell 0.49%; Japan’s markets were closed for a holiday. The Federal Reserve hiked interest rates last week for the first time in three years as the U.S. battles sticky inflation and elevated bond yields. Oil prices remain near $100 a barrel, and the 10-year Treasury yield hovers close to 5%. This backdrop heightens the significance of this week’s summit between U.S. President Donald Trump and Chinese President Xi Jinping, covering tariffs, critical minerals, and artificial intelligence. Treasury Secretary Scott Bessent is meeting Chinese Vice Premier He Lifeng ahead of the visit. “The same geopolitical conflict inflating energy prices is also what’s keeping the [Federal Reserve] hawkish and what’s squeezing Chinese refiners,” wrote Jeffrey Roach, chief economist at LPL Financial, adding that the Fed’s inflation outlook depends on oil markets settling down.