U.S. stock-index futures drifted modestly lower on Monday evening after major benchmarks posted solid gains in the regular session, powered by strength in technology shares and a decline in crude oil. By 20:24 ET (00:24 GMT), S&P 500 Futures were down about 0.2% at 6,745.0 points, Nasdaq 100 Futures slipped roughly 0.2% to 24,844.0 points, and Dow Jones Futures fell near 0.2% to 47,207.0 points.
Market rebound driven by tech
During the regular trading session, the three main U.S. indexes advanced notably. The Dow Jones Industrial Average rose 0.8%, the S&P 500 gained 1.0%, and the NASDAQ Composite increased 1.2%. Technology stocks were the primary contributors to the upside as chipmakers rallied following new product announcements at Nvidia's annual developer conference. Comments from Nvidia's Chief Executive, Jensen Huang, in which he said he expects $1 trillion in orders for Nvidia's Blackwell and Vera Rubin systems through 2027, supported investor optimism in the sector.
Energy market developments
Energy prices pulled back from recent highs and provided a backdrop for the equity moves. Crude oil retreated on Monday after a period of gains since tensions began between Israel and Iran. Despite the intraday decline, geopolitical developments remain a source of market caution: the conflict has entered its third week and attacks on shipping routes and energy infrastructure continue to threaten supplies moving through the Strait of Hormuz, a critical transit point for global oil flows. U.S. President Donald Trump said efforts to organize a coalition to escort oil tankers through the strait were still under discussion and had not yet been finalized, signaling the issue remains unresolved.
Fed decision and corporate calendar
Attention in markets is shifting toward the Federal Reserve's policy decision scheduled for Wednesday. The central bank is widely expected to leave interest rates unchanged as policymakers weigh the impact of elevated oil prices and geopolitical tensions on both inflation and economic growth. Investors will be watching updated economic projections and remarks from Fed Chair Jerome Powell for any indications about the timing of potential rate cuts later in the year.
Corporate earnings will also influence near-term sentiment. Lululemon Athletica (NASDAQ:LULU) and DocuSign (NASDAQ:DOCU) are scheduled to report quarterly results on Tuesday, which may add to market-moving data ahead of the Fed decision.
Bottom line
After a tech-led recovery in the regular session and a modest retreat in oil prices, U.S. futures were slightly lower in evening trade as investors refocus on the Federal Reserve decision and upcoming corporate earnings. Geopolitical risks in the Middle East continue to pose supply and volatility concerns for energy markets and, by extension, broader equity sentiment.