U.S. stock futures pointed to a weaker open Monday as a fresh escalation in the Gulf conflict sent crude prices sharply higher and pummeled risk assets across Asia. The contract for the S&P 500 was down 0.3% and that for the Dow was nearly unchanged, while the Nasdaq composite future lost 0.9%.
The price of Brent crude, the international standard, as well as the WTI grade crude climbed as much as nearly 5% early Monday before falling back. The move followed a weekend of hostilities in which Iran extended strikes to Qatar and the UAE for the first time in months, plus Jordan, Kuwait and Oman, while again declaring the Strait of Hormuz closed; the U.S. said it had struck over 300 Iranian targets over three nights.
Gold slid nearly 1% and the dollar firmed as markets priced in a firmer rate outlook ahead of Tuesday's CPI print and Federal Reserve Chair Kevin Warsh's testimony to Congress.
Asian trading on Monday
Asia bore the brunt of the risk-off shift and yet ended on a mixed note. In Asian share trading, Tokyo's Nikkei 225 index lost 1.9% to 67,242.73, while in Seoul, the Kospi declined 9% to 6,806.93. It is now at its lowest level since early May.
The chip complex was at the epicenter of the selloff. Shares in South Korean memory chipmaker SK Hynix, which soared 13% in their debut Friday on Wall Street, slumped 15.4% in Seoul. Its bigger rival Samsung Electronics sank 10.7%. Profit-taking in SK Hynix and Samsung Electronics deepened concerns over the durability of the AI memory rally. China's Shanghai Composite index shed 2.1% to 3,913.79.
Elsewhere in the region, Hong Kong's Hang Seng edged 0.2% higher, to 24,213.72, and in Australia, the S&P/ASX 200 was nearly unchanged at 8,808.50.
Premarket Snapshot — Monday, July 13, 2026
| Index | Change |
|---|---|
| S&P 500 E-mini futures (ES) | -0.28% (7,598.75) |
| Dow E-mini futures (YM) | 0% (52,904) |
| Nasdaq 100 futures | -0.94% (29,750.25) |
| US 10-Year Treasury Yield | -2.1% |
| WTI Crude | +3.18% ($73.68) |
| Gold futures | -0.97% (4,073.560) |
| DXY Index | -0.03% at 100.92 |
| Bitcoin | -1.21% (63,041.99) |
| VIX | +2.59% (16.25%) |
US Stocks in Focus
FB Financial, Smith Micro Software, LogProstyle, Veraxa Biotech, and Q32 Bio are among stocks to watch as US futures point lower into the New York open.
- Q32 Bio (QTTB) — The clinical-stage biotech will report 36-week topline results from Part B of the SIGNAL-AA Phase 2a trial of bempikibart in severe or very severe alopecia areata on Monday, July 13, 2026. A live conference call and webcast will be held at 8:00 a.m. ET the same day to discuss the results.
- SK Hynix (HXSCL/ADR) — U.S.-listed shares in focus after the Seoul-listed stock slumped 15.4% overnight, unwinding much of last week's Nasdaq debut pop.
- Other chipmakers are also in the spotlight as well due to the drag seen in the space in overseas markets.
- Earnings Slate — Domino's Pizza (DPZ), Steel Dynamics (STLD) and Zions Bancorp. (ZION)
Sector and macro backdrop
Bank earnings will move into focus later this week. This week will bring earnings reports from many of the biggest U.S. banks, including Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs and Wells Fargo on Tuesday alone. Worries about how continued fighting with Iran will affect the global flow of crude are clouding the outlook both for energy costs and overall inflation.
European trading opened mixed. In early European trading, Germany's DAX added 0.2% to 25,115.21 and the CAC 40 in Paris edged 0.03% higher, to 8,341.23. Britain's FTSE 100, however, was down 0.7%, at 10,490.23.
