U.S. stock futures climb as easing Middle East tensions lift Nasdaq 100

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US stock futures climb on eased tensions

Highlights

S&P 500 E-minis rise 0.68%, Nasdaq 100 E-minis climb 1.02%, and Dow E-minis gain 0.3% as U.S.-Iran de-escalation optimism lifts sentiment.
Apple lags Magnificent Seven peers after a 4.8% weekly drop and announces iPad and MacBook price increases due to higher chip costs, raising demand concerns.
SpaceX gains 1.2% after Nasdaq confirms its addition to the Nasdaq 100 on July 7, while Viridian Therapeutics surges 12.7% on FDA thyroid eye disease drug approval.

De-escalation hopes support premarket gains

As reported by Reuters, U.S. stock index futures rise on Monday after a U.S. official says Washington and Tehran will de-escalate and renew talks aimed at ending the war. The prospect that an interim peace deal signed earlier this month could hold helps calm investors after days of hostilities between the two sides.

At 5:00 a.m. ET, S&P 500 E-minis are up 50 points, or 0.68%, while Nasdaq 100 E-minis gain 298.75 points, or 1.02%. Dow E-minis add 155 points, or 0.3%, after the blue-chip index outperforms other main Wall Street benchmarks last week with a 0.6% gain.

Capital.com senior financial market analyst Kyle Rodda says the latest overtures by the U.S. and Iran reverse sentiment ahead of the market open, with both sides indicating they will wind down strikes before the next round of talks. He adds that efforts by the Trump administration to lower oil prices and support stocks are underpinning hopes that a deal will be reached.

AI cost worries and company moves remain in focus

Even as geopolitical tensions ease, concerns about AI spending continue to add uncertainty to the market. A selloff last week hits semiconductors and the so-called Magnificent Seven, raising questions about whether elevated chip-related earnings expectations can be sustained.

Apple underperforms its Magnificent Seven peers in premarket trading on Monday after a 4.8% drop last week. The company raises iPad and MacBook prices on Thursday, saying it can no longer shield customers from rising memory and storage chip costs tied to the AI industry's data center buildout.

IG market analyst Fabien Yip says weaker consumer demand in response to higher prices could expose the volumes supporting record chip margins and deepen skepticism over earnings growth. Traders are also pricing in at least one Federal Reserve rate hike this year to contain inflation, though those expectations may be reassessed when U.S. jobs data for June is released later this week.

In premarket trading, SpaceX rises 1.2% after Nasdaq says the newly listed company will join the Nasdaq 100 on July 7. Viridian Therapeutics jumps 12.7% after the U.S. Food and Drug Administration approves its drug for thyroid eye disease.

Our earlier report on the U.S.-Iran stand-down in the Strait of Hormuz covered Washington’s claim that both sides would halt reciprocal attacks and keep shipping lanes open while technical talks continued on the memorandum of understanding signed earlier this month. It also explained how markets were weighing the truce’s durability, with crude prices reacting cautiously amid ongoing signs the ceasefire remained fragile.

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