Stock Futures Rise as Wall Street Enters Holiday Week Following Major Market Decline on Iran Tensions and Oil Surge Podcast By cover art

Stock Futures Rise as Wall Street Enters Holiday Week Following Major Market Decline on Iran Tensions and Oil Surge

Stock Futures Rise as Wall Street Enters Holiday Week Following Major Market Decline on Iran Tensions and Oil Surge

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U.S. stock futures are edging higher as Wall Street begins a holiday-shortened week with the market closing Friday for Good Friday, according to Zacks and TheStreet. The major indexes closed sharply lower on Friday, pulled down by concerns over the Iran conflict and surging oil prices that have climbed to one hundred two dollars and eighty-eight cents per barrel.

On Friday, the Dow Jones Industrial Average fell one point seven percent, or seven hundred ninety-three point four seven points, closing at forty-five thousand one hundred sixty-six point six four. The tech-heavy Nasdaq Composite lost two point two percent, or four hundred fifty-nine point seven two points, to close at twenty thousand nine hundred forty-eight point three six. The S&P Five Hundred fell one point seven percent, or one hundred eight point three one points, closing at six thousand three hundred sixty-eight point eighty-five, according to Zacks.

The fear gauge, the CBOE Volatility Index, increased thirteen point two percent to thirty-one point zero five. All three major benchmark indexes are now at their lowest levels in over seven months. The Dow confirmed a move into correction territory, defined as a decline of at least ten percent from recent highs, while the Nasdaq previously entered correction territory as well. TheStreet reports the Russell Two Thousand is also in correction territory.

Eight of the eleven broad sectors closed in the red Friday, with Consumer Discretionary, Financials, and Communication Services declining three point one, two point five, and two point three percent respectively. The Energy Select Sector advanced one point nine percent as crude oil prices continue climbing.

Investors are monitoring President Trump's statements suggesting potential resolution within ten days, though markets largely dismissed the outlook as overly optimistic. Decliners outnumbered advancers by three point three eight to one on the New York Stock Exchange and by three point six two to one on the Nasdaq Composite. The Dow is currently up zero point three percent in today's trading while the Nasdaq Composite is down zero point six percent as of two thirty-five p.m. Eastern time, according to Fortune.

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