S&P futures increased on Monday, as the technology sector showed signs of recovery following a challenging week. Investors also considered a halt in hostilities between the U.S. and Iran, as uncertainty regarding the longevity of the agreement maintained attention on concerns about Middle East oil supplies. Futures for the Dow Jones Industrial Average increased by 188 points, representing a rise of 0.4%. S&P 500 futures ticked higher by 0.8%, while the technology-heavy Nasdaq-100 futures advanced 1.2%. Traders were closely monitoring U.S. tech stocks in the wake of last week’s significant market fluctuations throughout the sector. Arm led the way in premarket trade, rising 2.3%, while Marvell increased by 1.6%. Shares in Micron Technology were observed to increase by 0.7%, whereas Intel experienced a rise of 1.4%. SpaceX was also set to open 2% higher following the announcement from Nasdaq last week that Elon Musk’s satellite company will be fast-tracked onto the Nasdaq 100 next month.

Comcast shares experienced a notable increase of 25% following the announcement of its plan to separate its media and technology divisions into two publicly traded entities. The separation is anticipated to conclude within approximately one year. The U.S. and Iran reached an agreement on Sunday to suspend hostilities and permit commercial vessels to navigate the Strait of Hormuz without obstruction. This development follows a weekend marked by military exchanges that posed a risk to the ongoing negotiations intended to resolve their conflict. “Technical talks are slated to continue on all areas of the MOU,” a U.S. official stated on Sunday. “Both sides will stand down for now and vessels can move freely.”

The U.S. conducted strikes on Iranian military targets over the weekend in response to Iranian actions in the Strait of Hormuz. President Donald Trump subsequently issued a stark warning to Iran, stating in a post on Truth Social: “United States aircraft just struck Iranian missile and drone storage locations, and coastal radar sites, for violating the Cease Fire Agreement, AGAIN!” Crude prices experienced an uptick at the beginning of the week as traders evaluated the potential for a sustained cessation of hostilities, which could alleviate apprehensions regarding disruptions to energy supplies. International Brent oil increased by 0.67% to $72.47 per barrel. West Texas Intermediate futures advanced 1.2% to $70.06. “Neither side (especially the US) seems keen on a full resumption of hostilities and while unanticipated/unplanned escalation is possible, it’s likely the overall process remains headed toward a sustained détente,” stated Adam Crisafulli.

Wall Street is emerging from a week characterised by a mixed performance, highlighted by a shift away from technology stocks and into alternative sectors. The S&P 500 and Nasdaq Composite experienced declines of nearly 2% and 4.6%, respectively, as Nvidia and Alphabet saw losses exceeding 8% each. Meta Platforms, Apple, and Amazon each experienced declines exceeding 4%, while SpaceX faced a significant drop of 17%. The Dow, which is less exposed to tech, bucked the negative trend, advancing 0.6%. Merck and Johnson & Johnson propelled the 30-stock benchmark upward last week, with increases of 13% and 11.5%, respectively. This week will signify the conclusion of trading for June. As of Friday’s close, the S&P 500 has experienced a decline of 3% for the month, whereas the Nasdaq has seen a more significant drop of over 6%. The Dow has climbed more than 1%.