US pre-open: Futures higher as Trump calls off planned strikes
By Iain Gilbert
Date: Monday 03 Aug 2026
(Sharecast News) - Wall Street futures were in the green ahead of the open on Monday Donald Trump called off planned strikes against Iran, easing concerns over further escalation and dragging oil prices lower.
As of 1230 BST, Dow Jones futures were up 0.80%, while S&P 500 and Nasdaq-100 futurues had the indices opening 0.58 % and 0.41% firmer, respectively.
The Dow closed 276.97 points higher on Friday, wrapping up a volatile week on a positive note.
Comments from Donald Trump were in focus early on Monday, with the president announcing he had cancelled attacks on Iran and that talks between Washington and Tehran would resume on Monday. Reports late last week suggested the White House had been preparing a fresh round of strikes as hopes for a negotiated end to the conflict faded and energy prices spiked.
Crude prices dropped sharply in response, with Brent falling 4.99% to $83.54 a barrel, while West Texas Intermediate slid 6.11% to $79.50. Treasury yields also retreated as inflation worries eased slightly, with the benchmark 10‑year note falling almost six basis points to 4.681%.
On the macro front, S&P Global's July manufacturing purchasing managers index will be released at 1445 BST, while the Institute for Supply Management's July PMI will follow at 1500 BST.
In the corporate space, Loews posted second‑quarter net income of $444m prior to the open, up from $391m a year earlier, driven by stronger contributions from CNA Financial, Boardwalk Pipelines and Loews Hotels, while book value per share rose to $93.52.
Still to come, Palantir will report earnings after the close.
Reporting by Iain Gilbert at Sharecast.com
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