Dow Jones Futures: Will Israel-Hamas War Derail New Stock Market Rally?
Despite initial significant losses, the stock market rebounded and entered a new uptrend on Monday.
Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were relatively unchanged in overnight trade ahead of Tuesday's open. The stock market indexes had reversed earlier losses on Monday as concerns grew about the impact of the Israel-Hamas conflict on the new stock market rally. The conflict erupted over the weekend when Hamas militants launched a major assault on Israel, prompting retaliatory strikes from Israel. In terms of economic data, Wall Street will be closely watching this week's inflation reports and the release of the Federal Reserve's minutes from the September policy meeting. Additionally, the third-quarter earnings season kicks off this week with reports from Delta Air Lines, UnitedHealth, JPMorgan Chase, Citigroup, and Wells Fargo. On Monday, the Dow Jones Industrial Average and S&P 500 both rose 0.6%, while the Nasdaq composite increased by 0.4%. Tesla and Nvidia saw slight declines, while Apple and Microsoft ended higher. Oil prices jumped more than 4% on Monday, and the 10-year U.S. Treasury hit a long-term high before settling at 4.78%.