US stock futures advanced on Monday after reports that Washington and Tehran had agreed to halt mutual attacks ahead of peace talks scheduled to resume in Doha this week. The conflict had intensified since Thursday, with Iran striking a container ship, a vessel transporting Qatari oil, and military bases in Kuwait and Bahrain, prompting multiple retaliatory US strikes.
The move in futures comes as Wall Street emerges from a mixed week marked by a rotation out of technology and into other sectors. The S&P 500 and Nasdaq Composite declined 1.95% and 4.6%, respectively, while the Dow Jones Industrial Average added 0.6%. Losses were led by megacap technology names: Nvidia and Alphabet each fell more than 8%, and Apple, Amazon, and Meta each shed over 4%. SpaceX also slumped 17%, wiping out nearly all of the gains it had posted since its June 12 market debut.
