Dow Jones Futures: Trump's Iran Comments Spark Stock Market Reversal As Oil Prices Tumble

Futures for the Dow Jones Industrial Average and other major stock indexes traded slightly lower ahead of Tuesday’s open, after President Donald Trump’s comments on the U.S.-Iran conflict Monday sparked a stock market reversal. Oil prices tumbled after spiking above $119 a barrel in volatile trading.

Meanwhile, Broadcom (AVGO), Micron Technology (MU), Nvidia (NVDA) and Tesla (TSLA) were key movers Monday.

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								Indexes Muted As Oil Prices Swing, But AI Stocks Strong. ASML, GSK, Cameco In Focus
							

							

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						Indexes Muted As Oil Prices Swing, But AI Stocks Strong. ASML, GSK, Cameco In Focus

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Broadcom shares jumped 4.6% Monday, bullishly retaking its 50-day moving average. Shares are forming a new base. Micron stock found much-needed support at the 50-day line, reversing up 5.1%.

Nvidia stock erased early losses to rally 2.7% Monday. Shares found support at their long-term 200-day line, but remain below their 50-day.

Finally, Tesla shares also found support at their 200-day line, up 0.5% to snap a two-day losing streak.

Trump Comments On U.S.-Iran Conflict

Late Monday, President Trump said in a press conference that the war against Iran will end “very soon” and that “we’re achieving major strides toward completing our military objective.”

President Trump midday Monday told CBS in a phone interview that the Iran war is “very complete, pretty much” and the U.S. is “very far” ahead of the initial time frame for the war of four to five weeks. Those comments helped stocks reverse higher.

And oil prices tumbled Monday after Trump said that ships are now passing through the Strait of Hormuz and that he is “thinking about taking it over.” Oil prices moved lower in extended trading, as West Texas intermediate futures traded around $84.70 a barrel.

Ahead of Monday’s open, oil prices had briefly soared above $119 a barrel before easing after a Financial Times report said the Group of Seven finance ministers were considering using their strategic reserves. Oil prices had surged to their highest levels since mid-2022.

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This Week’s Earnings Reports: Oracle, Adobe

Oracle (ORCL) and Adobe (ADBE) headline the coming week’s earnings reports amid Wall Street’s AI concerns. Oracle is expected to report Tuesday, while Adobe’s earnings are due Thursday.

Retailers also will have a busy week on the earnings front, with Ulta Beauty (ULTA) and Dollar General (DG) leading the pack. Among gold and silver stocks, Franco Nevada (FNV) and Wheaton Precious Metals (WPM) are set to report.

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Stock Market Today: Inflation Data Due

Friday’s lousy jobs data raised the stakes for inflation data, with three reports set for release this week. The consumer price index for February, out Wednesday, is expected to show a moderate 0.2% rise in core prices, according to estimates from Econoday.

Thursday’s producer price index includes health care services inflation and other key inputs for February’s core PCE price index, the Fed’s primary inflation rate.

Friday’s delayed release of personal income and outlays data will include the core PCE price index for January, which is expected to show a steady 3% 12-month inflation rate.

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Dow Jones Futures Today: Treasury Yields

On Monday, the Dow Jones Industrial Average climbed 0.5%, or 239 points, while the S&P 500 gained 0.8% and the Nasdaq composite advanced 1.4%. The 10-year U.S. Treasury yield edged higher to 4.13%.

Ahead of Tuesday’s opening bell, Dow Jones futures traded down 0.1% as did S&P 500 futures. Nasdaq 100 futures edged lower in overnight trade. Remember that overnight action in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

**How To Invest Newsletter: Nvidia Earnings And This Sneak Peek

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What To Do In Current Stock Market

Following the recent negative action on the major stock indexes, now is an important time to read IBD’s The Big Picture column. And on Monday’s “IBD Live” show, the team discussed current trading conditions and stock market action.

An essential resource for daily breakouts is IBD MarketSurge’s “Breaking Out Today” list. It shows MarketSurge Growth 250 stocks that are breaking out past buy points. There was one new breakout Monday, namely biotech leader Veradermics (MANE). Shares broke out past a 51.56 IPO-base buy point.

Meanwhile, the MarketSurge “Near Pivot” list shows more stocks nearing buy points in bases. For example, General Dynamics (GD) is approaching a 369.70 buy point.

To find more stock ideas, check IBD Stock Lists like the IBD 50, Big Cap 20 and Stocks Near A Buy Zone. These features identify bullish patterns and buy points and are available to check every day.

Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.

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