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US Equity Futures Decline Slightly as Iran Peace Talks Fail
US equity futures fell fractionally early Monday after President Trump and Iran rejected each other’s latest proposals to end their 10-week conflict. Oil prices rose while bond yields increased on concerns about potential inflation from higher energy costs. Markets remain focused on artificial intelligence-related stocks even as investors await key economic data this week.
May 11, 8:35 AM·2m read1 source
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US equity futures are slightly lower as peace talks between the United States and Iran failed to produce an agreement. The breakdown is supporting higher prices in energy commodities and pushing up bond yields. Stocks have so far held steady despite the moves in oil and yields.
m. ET, S&P 500 and Nasdaq 100 futures were down fractionally. President Trump and Iran rejected each other’s latest proposals aimed at ending the 10-week conflict while both sides work to maintain a fragile ceasefire. Semiconductor stocks were higher in premarket trading after many closed at record highs on Friday.
Energy shares gained as investors used them as a hedge.
Bond yields rose worldwide on concerns about an oil-driven inflation shock and possible tighter monetary policy from central banks. The 10-year Treasury yield increased four basis points to 4.39 percent. The dollar gained 0.1 percent while gold fell below $4,700 per ounce. Silver outperformed gold, base metals rose and agricultural commodities were mixed.
Several individual stocks moved on corporate news. Babcock & Wilcox rose 12 percent after the power equipment company reported first-quarter revenue that grew 44 percent year-over-year and adjusted EBITDA that nearly quadrupled. Beazer Homes USA gained 22 percent as people familiar with the matter said Dream Finders Homes is close to announcing a $704 million offer to acquire the rival homebuilder.
Certara fell 5 percent after the biotech company cut its full-year adjusted earnings forecast and reported first-quarter adjusted profit that missed Wall Street expectations. Liquidia rose 7 percent after its first-quarter revenue exceeded the average analyst estimate.
