Dow, S&P 500, Nasdaq futures indicate lower open as crude oil jumps 6%; Chevron, Exxon Mobil shares in focus

Dow Jones futures were trading 0.23% lower at 53,486 points ahead of the opening bell on Monday’s market, indicating an open around 70 points lower on August 31 in comparison to the previous Wall Street close.

The S&P 500 index futures were trading 0.18% lower at 7,704 points ahead of the opening bell on August 31, indicating a marginally lower opening, according to the exchange data.

The tech-heavy Nasdaq 100 futures were trading 0.16% lower at 29,445 points ahead of the US equity market opening bell on August 28, indicating a flat or marginally higher open on Monday, when compared to the previous market close.

Key things to watch before US market opens

Crude oil jumps over 6%

Global crude oil prices surged more than 6% during the trading session on Monday, August 31, as commodity market investors focused on the latest round of escalations between the United States and Iran after one month of economic retaliation.

The latest report from CNN showed that Iran fired missiles towards US military targets in Jordan and the United Arab Emirates (UAE) in a retaliatory move after the US claimed that Iranian rocket launchers were trying to launch sea mines into the key maritime trading route, the Strait of Hormuz.

Investing.com data showed that the benchmark Brent crude oil prices were trading 5.9% higher at $91.25 per barrel (bbl) on Monday’s market session, in comparison to $86.12 per bbl at the previous commodity market close.

So far, there are no signs of a peace deal from either side at war, while the focus remains on maximising the economic pressure on Iran over military actions. US Central Command, in an official statement, said that US forces carried out limited, precise action against IRGC minelaying forces posing an imminent threat in the Strait of Hormuz.

US economic data to watch out for this week

Investors are expected to look out for key economic data releases this week, like the upcoming US Manufacturing PMI and job openings and labour turnover data on Tuesday, September 1, 2026.

The US Federal Reserve is also set to release its Beige Book this week on Wednesday, September 2, as investors will then analyse the central bank’s report on the economic conditions in the United States across its 12 districts.

On Friday, September 4, the Bureau of Labor Statistics will release its employment report and unemployment rate data for August 2026, which will shed light on the labour market situation in the American economy.

US stocks to watch on Monday, August 31

MarketWatch data showed that the energy stocks were trading higher during the pre-market hours, indicating an elevated open on August 31.

Vikram Naidu, the existing vice president for finance and business operations, will take over as the new interim CFO of the company.

How did the US markets end last week?

The US benchmark equity market indices ended lower after their trading session on Friday, August 28, as investors focused on the hawkish policy signals from the US Federal Reserve Chairman Kevin Warsh’s speech at Jackson Hole.

The cues pushed the US Treasury yields higher, resulting in profit booking in high-growth technology stocks.

MarketWatch data showed that the Dow Jones Industrial Average ended 0.02% lower at 53,559.99 points after the trading session on Friday, in comparison to 53,569.44 points at the previous US equity market close.

The S&P 500 index closed 0.25% lower at 7,711.76 points after the trading session on August 28, in comparison to 7,730.99 points at the previous Wall Street close, according to the exchange data.

After Friday’s market hours, the benchmark Nasdaq 100 index ended 0.70% lower at 29,433.43 points, compared to 29,641.56 points at the previous US market close.

Global markets today

The equity market benchmark indices in Asia ended lower after the trading session on Monday, August 31, as investors focused on elevated oil prices, military escalations in West Asia and last week’s hawkish signals from the US Fed Chairman.

Japan’s Nikkei 225 index ended 0.14% lower, the Hong Kong-based Hang Seng ended 0.07% lower, and India’s BSE SENSEX ended 0.40% lower after the trading session on Monday.

While other benchmark indices like China’s Shanghai Composite ended 0.86% lower, South Korea’s KOSPI ended 0.46% lower, and Singapore’s FTSE closed 0.97% lower after the trading session on August 31, 2026.