Stock Index Futures Rebound as Oil Prices Retract

Stock index futures rebounded slightly on Monday after oil prices retreated and bond yields dropped. The September S&P 500 E-Mini futures rose +0.25%, while the September Nasdaq 100 E-Mini futures gained +0.14%. This relief comes at the end of a wild week, where oil prices surged due to escalating tensions between the U.S. and Iran.

The price of WTI crude fell more than -3% on Friday, but ongoing tensions remain elevated. President Donald Trump mentioned considering a “massive attack” on Iran to pressure the country into negotiating a peace deal. Lower oil prices pushed Treasury yields down from this year’s highs, with the 10-year T-note yield falling one basis point to 4.69%.

Stock index futures were also supported by a mild rebound in most members of the Magnificent Seven in pre-market trading following yesterday's selloff. Intel (INTC) climbed over +6% after posting upbeat Q2 results and issuing Q3 revenue guidance that smashed Wall Street estimates.