US markets today: Dow, S&P 500, Nasdaq futures indicate positive open as investors focus on US-Iran conflict updates

Latest media reports showed that the US Secretary of State, Marco Rubio, said that the United States is receiving “signals” through multiple channels that Iran is looking to negotiate amid the continued round of attacks from the US Central Command in West Asia.

The Dow Jones futures were trading 0.18% higher at 52,469 points ahead of the opening bell on Monday, July 20, indicating a more than 300-point higher opening on Wall Street, as investors focused on a potential rebound after a market-wide selloff last week.

The exchange data further showed that the S&P 500 index futures were trading 0.43% higher at 7,529.75 points ahead of the opening bell, indicating a 70-point higher opening on Monday’s market.

While the Nasdaq 100 futures were trading 0.88% higher at 29,026.50 points ahead of the Wall Street open on July 20, indicating a more than 400-point opening on Monday’s trading session, when compared to the previous stock market close.

Key focus of investors will be to keep a close watch on the crude oil prices and geopolitical escalations in West Asia, as continued attacks in the region can potentially disrupt global trade if prolonged for a long time.

So far, America has carried out nine rounds of military attacks in Iran to destroy the country’s ability to attack vessels in the Strait of Hormuz.

Key things to watch before US market opens

US market recap

On Friday, the US markets witnessed a market-wide selloff due to the rising risk sentiment in the global market due to the geopolitical conflict in West Asia, and the rising sentiment and scepticism about AI technology among global investors.

MarketWatch data showed that the Dow Jones Industrial Average closed 0.77% lower at 52,146.42 points after Friday’s stock market session, compared to 52,552.97 points at the previous US market close.

While the S&P 500 index closed 1.01% lower at 7,457.69 points after the trading session on July 17, compared to 7,533 points at the previous market session, according to the exchange data.

The tech-heavy Nasdaq 100 index ended 1.49% lower after Friday’s trading session at 28,592.66 points, compared to 29,025.77 points at the previous stock market close, as per MarketWatch data.

US stocks to watch on July 20

While the airline’s revenues increased YoY basis, the profits were weighed down by the rising expenses in the period under review, specifically due to the fuel costs.

Along with chipmaking stocks, other tech stocks will also remain in the focus of stock market investors after a continued sell-off in the Asian markets.

Oil prices today

The attacks in West Asia resulted in crude oil prices rising 4% during Monday’s trading session as the energy rates hit $91.41 per barrel (bbl) as investors fear another upcoming period of supply chain disruption if Iran shuts down the key maritime oil trading route, the Strait of Hormuz.

During the evening market hours on Monday, India time, the Brent crude oil prices were trading 0.47% lower at $87.68 per bbl, compared to $88.1 per bbl at the previous commodity market close.

The crude oil prices have risen 5.3% in the last five trading sessions, and have gained nearly 10% in the last one-month period, according to Investing.com data. Although the energy prices were down 3% in the last three months, the prices have been trading over 36% in the last six months.