Before the Bell
US stock futures are clawing back part of Friday's selloff, helped by a sharp drop in oil. S&P 500 futures are up 0.5% and Nasdaq 100 futures are up 0.8%. WTI crude, the US oil benchmark, has fallen about 4% to just under $100 a barrel, and Brent, the global benchmark, is down a similar amount to near $109. The driver is diplomacy: Secretary of State Marco Rubio said President Trump would prefer to end the Iran war without more force, and Iran signaled after talks mediated by Qatar that a deal remains possible. Cheaper oil eases inflation worries, and Treasury yields are lower with it. Tuesday's midterms and Friday's jobs report are next.
On Friday the S&P 500 fell 1.8% to 7,580.07, the Nasdaq Composite dropped 2.9% to 25,437.00 and the Dow lost 1.1% to 51,770.31, capping the Nasdaq's worst month since March 2025. Intel plunged 28.6% after forecasting fourth-quarter revenue of $15 billion to $16 billion, well below estimates, on a weakening PC market. The selling spread through chipmakers: the Philadelphia Semiconductor Index, a basket of chip stocks, fell 7.2%, and Micron lost 5.3%. Overnight, Chinese stocks rose on reports of government market support, with the Shanghai Composite up 1.1%, while Japan's Nikkei slipped 0.3%. European shares opened higher.