On Monday, Nasdaq futures experienced a decline, while futures for oil and gold saw significant increases following the U.S. and Israel’s military actions against Iran over the weekend. Futures for the Nasdaq 100, Dow Jones Industrial Average, and S&P 500 indicated declines of 1.4%, 1.1%, and 1.1%, respectively, with Dow futures experiencing a reduction of 550 points. On Friday, the blue-chip Dow Jones Industrial Average, tech-heavy Nasdaq, and benchmark S&P 500 concluded the trading session with declines of 1.1%, 0.9%, and 0.4%, respectively, following a Producer Price Index reading that exceeded expectations.

The Nasdaq and S&P 500 concluded February on a downward trajectory, whereas the Dow recorded a modest increase of 0.2%, marking its 10th consecutive month of gains. In the early hours of Saturday, a military operation resulted in the death of Iran’s Supreme Leader, Ali Khamenei, alongside others, while inflicting damage across the nation. Iran responded by targeting Israeli and U.S. interests in various nations throughout the region. Yesterday, President Donald Trump indicated that the U.S. intends to sustain its combat operations in Iran for an extended period of several more weeks. West Texas Intermediate crude oil futures, the U.S. benchmark, experienced a significant increase of 7.5% in recent trading, reaching approximately $72 per barrel.

Shares of U.S. oil giants Exxon Mobil and Chevron experienced increases of 4.5% and 4%, respectively, in premarket trading, while Occidental Petroleum and Phillips 66 saw rises of 6% and 3%, respectively. Shares of defense contractors Lockheed Martin, RTX, and Northrop Grumman experienced notable increases, rising by 7%, 7%, and 5.5%, respectively, prior to the market opening. Nvidia shares experienced a decline of 5.5% and 4% over the last two trading days of the previous week, despite the company reporting impressive results after the market closed on Wednesday. In premarket trading, the shares indicated a further decrease of 1.5%. The shares of the remaining six companies within the Magnificent Seven cohort of major technology firms experienced a decline prior to market opening.

Meanwhile, safe-haven gold futures surged 3% to more than $5,400 an ounce—their highest level since hitting a record above $5,625 in late January—and silver futures rose 2.5% to $95.50 an ounce. The yield on the 10-year Treasury notes, a critical determinant of interest rates across various consumer loans, stood at 3.97% following a Friday close of 3.95%. The U.S. dollar index, which monitors the value of the greenback relative to a selection of currencies, registered an increase of 0.6%, reaching 98.18. Bitcoin, which trades continuously, recently was trading around 66,200. It declined from a peak on Friday near $68,000 to a low of approximately $63,000 early Saturday in the immediate aftermath of the strikes before recovering yesterday.