US stock index futures traded higher in volatile early Monday trade, signalling that Wall Street may be looking beyond the latest escalation in the conflict between the US and Iran.
As of 4:47 a.m. GMT-5, E-mini Nasdaq-100 Futures climbed 183.25 points, or 0.64%, to 28,956.50, outperforming broader market benchmarks. E-mini S&P 500 Futures rose 24.50 points, or 0.33%, to 7,522.25, while E-mini Dow Jones Industrial Average Futures gained 145 points, or 0.28%, to 52,520.00.
The gains came despite a cautious start to the session as oil prices swung between gains and losses and US Treasury yields moved higher following another round of military action in the Middle East.
The US carried out its ninth consecutive day of strikes on Iran overnight, keeping geopolitical tensions elevated. However, market sentiment improved through the European morning after comments from Iranian Foreign Ministry spokesman Esmail Baghaei raised hopes that diplomacy could still prevent a deeper conflict.
According to Iranian local media, Esmail Baghaei said intermediaries had continued exchanging messages with Iran despite the latest US strikes and added that negotiations between Tehran and Washington could still move forward if they served Iran's national interests.
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The remarks helped ease some of the risk-off mood that initially gripped markets, with investors appearing to bet that diplomatic efforts could eventually limit further escalation.
Even as geopolitical risks remain firmly in focus, Monday's move in futures suggested investors were largely maintaining their appetite for equities, with technology shares leading the advance ahead of the US cash market open.
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