US pre-open: Futures mixed as Iran-Israel exchanges threaten ceasefire
By Iain Gilbert
Date: Monday 08 Jun 2026
(Sharecast News) - Wall Street futures were mixed ahead of the bell on Monday as reports that Iran had fired missiles at Israel rattled sentiment, threatening a fragile ceasefire and adding to nerves after last week's sell‑off.
As of 1245 BST, Dow Jones futures were down 0.10%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.33% and 0.72% higher, respectively.
The Dow closed 695.15 points lower on Friday as investors digested May's jobs report, while the Nasdaq logged its biggest single-day decline since Donald Trump's "reciprocal tariff" announcement back in April 2025.
Middle East tensions were in focus prior to the open on Monday after Israel responded to Tehran's actions, which were themselves a response to Jerusalem's attacks on Lebannon, with strikes on western and central Iran, fuelling fears that the conflict was worsening.
The reported Iranian attack also raised fresh doubts over the stability of the ceasefire between Washington and Tehran. According to the reports, the missile launch followed comments on X from Iranian parliament speaker MB Ghalibaf, who claimed the US naval blockade and alleged breaches of agreements relating to Lebanon amounted to violations of the truce.
Oil prices surged on the news, with West Texas Intermediate up 4.25% at $94.39 a barrel, while interntional benchmark Brent crude was 4.62% higher at $97.39 a barrel.
Trade Nation's David Morrison said: "Technically, US equities have looked very overbought for a while now, and last week the Nasdaq hit its head on a significant Fibonacci level. Broadcom's disappointing forward guidance may be a one-off, and there won't be another update for three months. But there can be little doubt that the US labour market, along with its economy, is robust enough for rate hikes, which, when considering the latest inflation data, are needed to help dampen price rises.
"This morning's jump in the oil price following further hostilities over the weekend, only exacerbate inflation concerns. Later this week sees the release of key inflation reports, CPI and PPI. Meanwhile, there are also concerns that the huge upcoming AI-related IPOs, which begin this Friday with SpaceX, are sucking oxygen out of a market which already has a very thin atmosphere."
In the corporate space, Trip.com will report earnings after the close.
No major data points were scheduled for release on Monday.
Reporting by Iain Gilbert at Sharecast.com
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