US stock market today: S&P 500, Nasdaq futures slide up to 1% as crude oil price spikes; chip stocks retreat
US stock futures indicated a negative start on Wall Street as crude oil prices spiked due to uncertainty over US-Iran peace talks, with chip stocks retreating after a report on OpenAI's weakness. Major tech companies, including Alphabet, Meta Platforms, Microsoft, and Amazon, are set to report earnings on Wednesday.
US stock futures are indicating a negative start on Wall Street due to elevated energy prices amid uncertainty over US-Iran peace talks. Futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite were trading with losses between 0.2% and 1.1%. A report pointing to weakness in OpenAI led to chip stocks reversing recent gains. Major tech companies, including Alphabet, Meta Platforms, Microsoft, and Amazon, will report earnings on Wednesday. The Federal Reserve meeting and fresh inflation data are due later this week. Crude oil prices jumped, with Brent crude gaining $4.3 to over $112 a barrel.
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