US markets today: Dow, S&P 500, Nasdaq futures hint gap-up open amid pullback in crude oil prices; stocks to watch

The US equity market futures indicate towards a positive opening on Monday, October 26, as investors focus on the sharp pullback in global crude oil prices, easing US Treasury yields, and the mixed cues from the Asian markets.

Dow Jones futures were trading 0.32% higher at around 52,567 points ahead of the opening bell on Monday’s market, as investors focus on rebound potential after last week’s lower close, according to Investing.com data.

The S&P 500 index futures were trading 0.31% higher at 7,683 points during the pre-market hours, while the Nasdaq 100 futures were up 0.61%, hovering around 29,292 points ahead of the opening bell, as per the exchange data.

Equity market investors are expected to trade based on the lower oil prices in the global market, while the selling pressure in tech stocks from Asia will potentially keep the Nasdaq and chipmaking stocks in check.

Latest reports also suggest that US-based artificial intelligence (AI) company Anthropic is looking to file its papers for an initial public offering (IPO) with the markets regulator SEC on Monday, October 26.

SEC filings showed that Anthropic IPO’s preliminary prospectus states that the company “will not receive any proceeds from the sale of shares” from the public issue on Wall Street. The IPO has the potential to keep US equities buzzing in the upcoming period.

US stocks to watch

Key things in focus this week

Last week, oil prices surged during the trading session, with traders navigating a volatile situation in the Middle East after Houthi rebels attacked Saudi’s energy infrastructure this week.

The US Fed is set to hold its two-day meeting from Tuesday, October 27 to Wednesday, October 28, after which the central bank will announce the interest rate changes, if any.

CME Group’s FedWatch tool suggests that the market expects a 90.6% chance that the central bank will keep interest rates unchanged in the 3.75-4% range in the upcoming meeting.

While 9.4% of the market estimates a 25 basis point rate hike for the US economy.

How did US markets end last week?

The equity market indices in the United States ended lower on Friday, October 23, as investors focused on the sharp surge in global crude oil prices, elevated US benchmark Treasury yields, and the selling sentiment emerging in index heavyweights.

The Dow Jones Industrial Average ended 1.23% lower at 52,215.16 points after the trading session on Friday last week, in comparison to 52,867.98 points at the previous equity market close, according to MarketWatch data.

The S&P 500 index ended 0.52% lower at 7,623.68 points on October 23, in comparison to 7,663.43 points at the previous US stock market close, as per the exchange data.

The tech-heavy Nasdaq 100 index ended flat at 28,957.53 points after the trading session on Friday, in comparison to 28,958.69 points at the previous Wall Street close.