Stock market today: Dow, S&P 500, Nasdaq futures waver ahead of retail earnings

On Monday, US stocks experienced a decline as oil prices and Treasury yields surged, fueled by growing concerns of a potential resurgence in the US-Iran conflict. The Dow Jones Industrial Average fell by 0.5%, the S&P 500 mirrored the decline with a 0.5% drop, and the Nasdaq Composite experienced a 0.3% decrease. Stocks continued to lag in the afternoon session as oil prices surged, reaching $90 per barrel per barrel, following President Trump's assertion that he does not foresee the war ending anytime soon. His comments, along with a threat towards Oman, further unsettled the market.

Adding to the market's unease was a tightening in financial markets, with the 10-year and 30-year Treasury yields climbing, the latter hitting its highest level since June 2007. Investors are eagerly awaiting the Federal Reserve's upcoming policy decisions and a series of retail earnings reports, as there are fewer economic data releases in the coming days.

Major retailers such as Walmart, Target, Lowe's, and Home Depot were set to release their quarterly earnings this week, offering a glimpse into consumer spending ahead of the critical back-to-school shopping season. The minutes from the Federal Open Market Committee's recent meeting were also anticipated to provide further insight into the Fed's thinking on the matter.