S&P futures declined slightly early Monday, after a successful week on Wall Street, as oil prices surged following President Donald Trump’s dismissal of Iran’s recent proposal to resolve the conflict. Futures associated with the Dow Jones Industrial Average exhibited little movement. S&P 500 futures experienced a decline of nearly 0.1%, whereas Nasdaq 100 futures fell by 0.13%. Sunday’s moves follow a rally in the S&P 500 and Nasdaq Composite, which increased by over 2% and 4%, respectively, in the previous week. Both indexes achieved their sixth consecutive week of gains — a first for each since 2024.

The Dow experienced an increase of 0.2% over the week, marking its fifth consecutive week of gains in the past six weeks. Equities rose to conclude the week on Friday following the release of the U.S. nonfarm payrolls report, which indicated an increase of 115,000 jobs in April, exceeding the anticipated figure of 55,000 from economists surveyed by Dow Jones. Both the S&P 500 and Nasdaq concluded Friday’s trading session at unprecedented levels. Iran has submitted a fresh proposal to U.S. negotiators, focusing on resolving the protracted conflict that has persisted for months. The counteroffer emphasized the necessity of concluding the conflict across all dimensions and removing sanctions imposed on Tehran, as reported, referencing an informed source.

In response, Trump stated in a Truth Social post that he found Iran’s response unsatisfactory, characterizing it as “TOTALLY UNACCEPTABLE!” Subsequently, oil futures experienced an increase during overnight trading following Trump’s dismissal. Nonetheless, certain analysts anticipate that U.S. markets will exhibit resilience in the face of prevailing uncertainty. “The economy may slow somewhat from its prior path, due to the Iran war and subsequent oil price shock,” stated Rick Rieder.

However, “there are many much larger structural components that should keep the aggregate economy in much better shape than many people expect.” This week, investors will concentrate on the April consumer and producer price indexes, which could provide new perspectives on the war’s influence on inflation. Market participants will closely observe the earnings reports this week from firms including Under Armour and Cisco.