Stock futures sank as oil prices spiked on Sunday after Israel declared war on Hamas over the deadly attack by the Palestinian militants this weekend.
At 6:41 p.m. ET Sunday, Dow Jones Industrial Average futures lost 186 points, or 0.6%; while the S&P 500 futures fell 0.7%, and Nasdaq Composite futures slipped 0.6%.
Crude oil futures (West Texas Intermediate, the U.S. standard) rose 3.8% to $85.97 a barrel. Brent crude, the international standard, gained 2.6% to $87.63 a barrel.
On Monday, the Nasdaq and New York Stock Exchange have regular trading hours, but U.S. bond markets will be closed for Columbus Day and Indigenous Peoples’ Day.
This week’s notable earnings include PepsiCo on Tuesday; Delta Air Lines, Domino’s Pizza, Fastenal, and Walgreens Boots Alliance on Thursday; and BlackRock, Citigroup, JPMorgan Chase, PNC Financial Services Group, Progressive Corp., UnitedHealth Group, and Wells Fargo on Friday.
The week’s notable economic events include Tuesday’s release of National Federation of Independent Business’ Small Business Optimism Index for September.
On Wednesday, the Federal Open Market Committee releases the minutes from its Sept. 19-20 monetary-policy meeting, and the Bureau of Labor Statistics will report the producer price index.
On Thursday, the BLS will report the consumer price index for September, and the Labor Department will report the number of worker filings for unemployment benefits in the week ended Oct. 7.
On Friday, the University of Michigan will release its Consumer Sentiment Survey for October.
Write to Janet H. Cho at [email protected]
Read the full article here
