US stock futures remained relatively stable on Sunday evening as investors prepared to capitalize on a robust May that saw major indexes reach record highs. In overnight trading, Dow and S&P 500 futures fluctuated near neutral territory while the Nasdaq 100 recorded a modest increase of 0.1%.
As Wall Street enters June, the momentum built in May appears to bolster investor confidence. The Nasdaq Composite surged more than 8%, leading the charge with technology shares driving the overall market upward. In contrast, the S&P 500 experienced a rise of approximately 5% during the month, while the Dow Jones Industrial Average saw an increase of nearly 3%.
In political developments, President Donald Trump announced plans to gather advisors in the Situation Room to make a “final determination” regarding future actions, specifically regarding Iran’s nuclear ambitions. He emphasized the necessity of Iran never acquiring a nuclear weapon and called for the immediate reopening of the Strait of Hormuz, a crucial passage for global energy shipments.
On the energy front, oil prices saw a resurgence on Sunday after experiencing a pullback late last week. US benchmark West Texas Intermediate crude rose by 1.8%, moving close to $89 a barrel, while Brent crude increased by 1.5% to reach $92. Despite this upward trend, WTI recorded its most significant monthly decline since April 2025, plummeting nearly 17% in May.
Looking ahead, investors are set to scrutinize Friday’s nonfarm payrolls report, which is anticipated to be one of the week’s key economic indicators. This employment data is expected to offer insights into labor market dynamics and could influence future Federal Reserve interest rate decisions.
In a related matter, oil prices have begun to rise from a six-week low amid uncertainties regarding a possible peace agreement to conclude the ongoing conflict in Iran. Brent crude advanced towards $93 a barrel following a significant drop the previous week, while West Texas Intermediate hovered around $89. Over the weekend, the US and Iran exchanged messages to negotiate adjustments to a draft agreement aimed at extending a ceasefire and reopening the Strait of Hormuz, although progress between the two parties remains uncertain.
Recent developments have shifted the narrative from optimism regarding a potential peace deal—which had previously caused the first monthly decline in crude prices this year—to concerns over the ongoing standoff. Brent crude continues to be up more than 25% since the conflict began in late February, as the nearly complete closure of this vital waterway triggers unprecedented turmoil within oil markets. President Trump has not publicly commented on the Iran situation since a Situation Room meeting where he expressed expectations of announcing an agreement to extend the current truce with Iran for 60 days. In a social media update, he reiterated his demands that Iran suspend its nuclear program and restore the Strait of Hormuz to its status as an international waterway.
