Nasdaq futures surged on Monday, marking the onset of the busiest week in the corporate earnings calendar, while oil prices declined following a cessation of military exchanges between the U.S. and Iran. Futures for the Nasdaq 100, Dow Jones Industrial Average, and S&P 500 experienced increases of 1.6%, 1.1%, and 1%, respectively, in the latest trading session. Major stock indexes have experienced two consecutive weeks of declines. On Friday, the tech-focused Nasdaq Composite experienced a decline as chip stocks plummeted, while the blue-chip Dow Jones Industrial Average saw an increase and the benchmark S&P 500 inched upward.

Oil prices experienced a decline on Monday, as U.S. benchmark West Texas Intermediate futures fell by 8% to $82.30 a barrel, while global benchmark Brent crude futures decreased by 9.4% to $87.70 in recent trading. The abrupt decline comes in response to a Reuters report indicating that Iran would halt military actions contingent upon the U.S. maintaining its own cessation. The report indicating that President Donald Trump had decided against escalating the conflict. Shares of energy giants Chevron and Exxon Mobil declined about 3% each. Approximately one-third of companies listed on the S&P 500 are expected to disclose their quarterly results this week. This includes members of the Magnificent Seven, with Meta Platforms and Microsoft scheduled for Wednesday, followed by Amazon and Apple on Thursday.

Shares of all of the septet pointed higher before the bell, with Nvidia up about 1% following a report that it is in talks with OpenAI to guarantee $250 billion in financing for a massive Ohio data center project. After plunging 8.5% Friday, the Roundhill Memory ETF rose 5% as components Sandisk and Micron Technology bounced back from sharp losses, while the broader iShares Semiconductor ETF rebounded 3% after declining roughly 4.5% Friday. The 10-year Treasury yield, a key determinant of interest rates across various consumer loans such as mortgages, declined by nearly five basis points from Friday’s close to 4.64% in recent trading. The yield reached its peak since January 2025, approaching 4.72% on Thursday, driven by inflation concerns as petrol prices surpassed $4 per gallon.

Based on the CME Group’s FedWatch tool, market participants are currently assigning a 32% probability to a Federal Reserve rate increase at its upcoming meeting, an increase from approximately 16% the previous week. Additionally, there is now a 77% likelihood of at least a quarter-percentage-point rate hike at the September meeting, rising from 64% a week prior. Bitcoin was trading around 65,200, up modestly over the past 24 hours. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, experienced a decline of 0.2%, settling at 101.27. Gold futures were up by 0.7%, trading at $4,100 per ounce.