Oil Price Surge Raises Market Concerns, S&P 500 Futures Modestly Higher
Stock futures are modestly higher ahead of the open after Monday's rebound, despite growing concern that the latest leg higher in crude could reintroduce inflation pressure and derail the recent stabilization in equities. Markets are trading defensively as a renewed surge in oil prices tied to escalating attacks on energy infrastructure in the Middle East weighs on sentiment.Oil prices are climbing again, with Brent crude moving back above $100 per barrel after fresh strikes on production facilities and export hubs in the UAE and Iraq disrupted supply and halted key shipping activity. The situation in the Strait of Hormuz remains the central pressure point, with limited tanker traffic and ongoing military activity constraining flows through a route that typically handles roughly 20% of global oil supply.Equity markets are struggling to find direction in this environment. While there was some optimism earlier in the week that the worst of the energy shock might be passing, price action in oil is challenging that view and keeping volatility elevated.In pre-market trading, S&P 500 futures rose 0.22%, Nasdaq futures rose 0.11% and Dow futures rose 0.31%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Okloup 8% after announcing that the U.S. Nuclear Regulatory Commission has issued a materials license to Oklo's wholly owned subsidiary Atomic Alchemy to handle, process, and distribute isotopesDelta Air Linesup 4% after updating its Q1 guidanceUberup 3% after the company and Nvidia announced they are planning to launch a global fleet of entirely Nvidia software-driven autonomous vehicles, starting in Los Angeles and San Francisco in the first half of 2027 and scaling across 28 cities globally by 2028Nvidiaup 1% after CEO Jensen Huang said he expects Blackwell and Ruben revenue of at least $1T through 2027Six Flagsup 1% after Reutersactivist investor Jana Partners is calling for change at the company, urging it to explore a sale and immediately appoint a new head of its boardUP AFTER EARNINGS -Elbit Systemsup 6%DOWN AFTER EARNINGS -Tencent Musicdown 13%Academy Sportsdown 4%LOWER -Eli Lillydown 1% after HSBC downgraded the stock to Reduce from Hold with a price target of $850, down from $1,070
