FX.co ★ US Futures Remain Muted

US equity indices were mostly lower on Monday as rising oil prices reinforced concerns about a potential Federal Reserve rate hike. Futures on the S&P 500 and Nasdaq 100 declined as much as 0.5%, while Dow futures hovered just below the flatline. Crude and refined product prices advanced after the US and Iran carried out fresh strikes against each other, following earlier threats to block tankers and other vessels in the Persian Gulf, extending the disruption of exports from the region. Yields climbed across the curve, putting pressure on equities in credit-sensitive sectors. Shares of Microsoft, Palantir, Alphabet, and Tesla were down as much as 1% in premarket trading, while banks and credit card companies also weakened, with JPMorgan and Visa each falling around 0.7%.