stock futures are rising

U.S. equity futures experienced a rise on Monday following President Donald Trump's decision to call off planned strikes against Iran. This move resulted in a significant drop in oil prices. The Dow Jones Industrial Average saw a rally of 610 points, or nearly 1.2%, while the S&P 500 futures advanced 0.6% and Nasdaq-100 futures ticked up 0.2%.

Trump announced that talks between the U.S. and Iran would resume on Monday. Earlier reports indicated that the president was preparing for a new wave of strikes as the hopes for a negotiated settlement diminished, and energy prices surged. The price of Brent oil dropped about 6%, trading at $82.95 per barrel, while West Texas Intermediate futures fell nearly 7% to $78.93 per barrel.

Treasury yields also declined as concerns about inflation decreased. However, investors' enthusiasm was tempered by the fact that this situation had occurred before. The first trading day of August was expected to see market stabilization, with investors digesting a full slate of labor market data, including July's non-farm payrolls and unemployment figures.

Across the Atlantic, European stock markets showed positive movement, with the Stoxx 600 up 0.3% and individual European carmakers advancing. In Asia-Pacific markets, South Korea's Kospi fell over 5%, Japan's Nikkei 225 dropped 0.94%, and Australia's S&P/ASX 200 closed 0.47% higher. Meanwhile, shares in AstraZeneca plummeted more than 7% amid reports of a potential merger with U.S. rival Bristol Myers Squibb, valued at around $400 billion.