U.S. stock futures edge lower, weighed down by elevated government bond yields amid few signs of a resolution to the Iran conflict. Oil prices remain above $100 a barrel, keeping inflation concerns alive.
Samsung Electronics shares rise after the South Korean government intervenes to avoid a possible strike at its memory chip operations.
By 03:28 ET, Dow futures fell 321 points (0.7%), S&P 500 futures slipped 32 points (0.4%), and Nasdaq 100 futures declined 96 points (0.3%). All three major indices ended down over 1% on Friday.
Optimism around AI spending has mitigated losses. The S&P 500 remains above pre-Iran assault levels.
Nvidia's results this week will test AI boom longevity.
Bond market sell-off dominates: ING analysts note U.S. 10-year yield hit a 15-month high; European and Asian yields also rose.
Oil prices climb amid shaky ceasefire: Brent crude rose 1.0% to $110.32. A drone attack hit a UAE nuclear facility; Saudi Arabia intercepted three drones.
Samsung shares gain: Government mediates talks with union to avert strike. Court threatens union with a daily fine of 100 million won for defying strike orders.
China's economy shows unexpected softness: April industrial output rose 4.1% (forecast 6%), retail sales up just 0.2% (forecast 2%).
