US Futures Waver as Oil Prices Edge Lower, Chips Stocks Rally
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergUS futures swung to slight gains in Monday pre-market trading, erasing overnight losses as oil prices retreated from an earlier surge, and as top semiconductor stocks including Micron Technology Inc. and Nvidia Corp. advanced. Sentiment remained muted, though, with inflation remaining a key concern.
S&P 500 futures rose 0.2% as of 8:54 a.m. in New York, while Nasdaq 100 contracts gained 0.6%. West Texas Intermediate crude oil slipped about 1.9% to trade around $103, giving up earlier gains after Iran’s Tasnim claimed the US was said to have proposed a temporary waver on oil sanctions. President Trump on Sunday said the “clock is ticking” after Iranian drones targeted a nuclear power plant in the United Arab Emirates.