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U.S. stock index futures edged lower Sunday night after President Donald Trump dismissed Iran’s response to a U.S.-backed peace proposal aimed at ending the ongoing conflict and reopening the Strait of Hormuz. Investor sentiment weakened as fears of prolonged geopolitical instability in the Middle East continued to pressure global markets and drive oil prices higher.
S&P 500 Futures declined 0.1% to 7,398.93 points, while Dow Jones Futures dropped 0.2% to 49,610. Nasdaq 100 Futures remained mostly unchanged at 29,329.75. Despite the slight pullback, Wall Street remained close to record highs, supported by continued strength in technology and semiconductor stocks, along with signs of resilience in the U.S. economy.
Trump described Iran’s response to the 14-point American proposal as “totally unacceptable” after Tehran reportedly delivered its position through Pakistani mediators. Iran rejected demands to dismantle its nuclear facilities and opposed suspending uranium enrichment for the next 20 years. Tehran instead called for an end to military operations, a gradual reopening of commercial shipping routes in the Strait of Hormuz, and the lifting of the U.S. naval blockade before entering further nuclear negotiations.
The latest developments suggest there is little immediate hope for de-escalation in the U.S.-Israel-Iran conflict. Oil prices surged following Trump’s comments, as traders feared additional disruptions to energy supplies and shipping routes in the Gulf region.
Meanwhile, Wall Street closed at fresh record highs on Friday, fueled by strong gains in chipmaking companies. Investors remain optimistic about booming AI-related demand, which has significantly boosted semiconductor valuations in recent weeks. Intel shares jumped nearly 14% after reports indicated the company reached a preliminary chip production agreement with Apple.
Markets were also supported by stronger-than-expected U.S. nonfarm payrolls data for April, reinforcing confidence in the economy and increasing expectations that the Federal Reserve will keep interest rates unchanged for the remainder of the year.
