Stocks Set to Open Lower as Fresh U.S.-Iran Flare-Up Lifts Oil, Jobs Data Awaited

Stocks are expected to open lower as tensions between the United States and Iran escalate, causing oil prices to rise. The S&P 500 E-Mini futures and Nasdaq 100 E-Mini futures are both down 0.23% and 0.17% respectively, signaling a potential decline in the opening bell. WTI crude prices surged nearly 4% after the U.S. and Iran engaged in strikes, the first in about a month.

In retaliation, Iran's Islamic Revolutionary Guard Corps carried out missile and drone strikes on U.S. airbases in Jordan. ExxonMobil reported weaker-than-expected earnings, contributing to the negative sentiment in the market. Meanwhile, investors are eagerly awaiting key economic data releases, including U.S. labor market figures and quarterly earnings from major tech companies.