Stock Market Today: Dow Futures Gain, S&P 500, Nasdaq 100 Slip as Iran Keeps Conditions To Reopen Hormuz Strait

Benzinga

U.S. stock futures were mixed on Monday, as the Dow Jones index rose, while the S&P 500 and Nasdaq 100 indices fell, following Friday's higher close.  Geopolitical uncertainty continues to weigh on markets after Iranian officials declared that the Strait of Hormuz will not fully reopen until Washington meets seven conditions, maintaining a firm stance despite mediated proposals and recovering Persian Gulf oil exports.  Meanwhile, Brent crude held steady above $100 per barrel after Tehran warned of a stronger military response to any potential U.S. strikes amid plans for additional American troop deployments.  Meanwhile, the 10-year Treasury bond yielded 5.25%, and the 2-year Treasury bond yielded 4.79%, at the last check. The CME Group’s FedWatch tool projections show markets pricing in a 20.5% likelihood of the Federal Reserve hiking interest rates after its October meeting.  The SPDR S&P 500 ETF Trust (NYSE: SPY) and Invesco QQQ Trust ETF (NASDAQ: QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Monday. The SPY fell by 0.045% to $769.29, while the QQQ declined 0.23% to $747.85.

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00:00U.S. stocks look set to open in the red on Monday, with futures of the Dow Jones, S&P

00:05500,

00:05and Nasdaq 100 indices falling following Friday's higher close.

00:10Geopolitical uncertainty continues to weigh on markets after Iranian officials declared

00:15that the Strait of Hormuz will not fully reopen until Washington meets seven conditions,

00:20maintaining a firm stance despite mediated proposals and recovering Persian Gulf oil

00:25exports. Meanwhile, the 10-year Treasury bond yielded 5.25 percent, and the two-year Treasury

00:30bond yielded 4.79 percent at the last check. The CME Group's FedWatch tool projections show

00:37markets pricing in 20.5 percent likelihood of the Federal Reserve hiking interest rates after its

00:42October meeting. The Spider S&P 500 ETF Trust and Invesco QQQ Trust ETF, which tracked the S&P 500

00:50Index and Nasdaq 100 Index, respectively, declined in the pre-market session on Monday.

00:55The SPY fell 0.2 percent to $768.11, while the QQQ declined 0.22 percent to $747.90.

01:05Stocks in focus for today are Space Exploration Technologies was 1.18 percent higher in pre-market

01:12on Monday after the Elon Musk-led rocket company completed three launches in less than 13 hours,

01:18sending astronauts, a classified U.S. intelligence payload, and Google's first in-orbit AI experiment

01:24into space. Qualcomm rose 3.96 percent in Monday pre-market after it filed a prospectus for offering

01:3025 million common shares. Pascal Holding fell 1.30 percent after it named Roger L. Chuchin as head of

01:38investor relations. Redwire rose 0.55 percent after it announced that it has been awarded a contract by

01:44Axiom Space to develop and deliver two rollout solar array wings for its second space station module.

01:51Vistra advanced 6.27 percent following a Bloomberg report that the Trump administration plans to offer

01:57the company a roughly $4 billion loan package to upgrade three of its nuclear plants.

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