Web Trader MT5
US stock futures edged higher on Monday following a losing week on Wall Street, with S&P 500 futures up 0.5%, Nasdaq-100 futures gaining 0.9%, and Dow futures rising 0.4%. The previous week’s losses were led by technology stocks, as investors continued to question the sustainability of massive AI investments. The Nasdaq fell 2% for the week, while the S&P 500 and Dow declined less than 1%.
Markets are now preparing for a busy week featuring the US midterm elections, October’s Nonfarm Payrolls report, and major corporate earnings, including Apple and Qualcomm.
Oil prices dropped more than 3% in the early trading hours today as renewed diplomatic efforts between the US and Iran raised hopes of a peaceful resolution to the conflict. Brent crude fell to $109.72 per barrel, while WTI declined to $100.61.
However, uncertainty persists, as investors remain cautious of renewed military action after the November 3 US midterm elections.
Gold recovered at the start of the week, snapping a two-day losing streak after falling below $3,900 to its lowest level since October 2025. Hopes of a diplomatic breakthrough between the US and Iran weakened demand for the dollar, providing some support to the precious metal.
Gold’s recovery remains limited by expectations of further Fed tightening, with markets pricing in around a 75% chance of a December rate hike amid persistent inflation concerns. Investors are now focused on US ISM Manufacturing and Services PMI data, followed by Friday’s Nonfarm Payrolls report, which could provide fresh direction for the dollar, Treasury yields, and gold.
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