Stock futures are pointing higher Monday ahead of a busy week that includes a Federal Reserve decision on interest rates, as investors monitor developments in the Iran war; crude oil futures are slightly lower after hitting their highest level in nearly four years; President Donald Trump is looking to recruit other countries to help escort oil tankers through the Strait of Hormuz; Nvidia’s GTC conference, the so-called “Woodstock of AI,” kicks off today; and Meta is reportedly set to lay off thousands of employees to offset the costs of massive AI investments. Here’s what you need to know today.
Stock Futures Rise After 3rd Straight Losing Week
Stock futures are pointing to a higher open after major indexes lost ground for the third consecutive week amid concerns about the impact of the Iran war. While investor keep close tabs on developments in the Middle East, they’re also preparing for the Fed’s policy meeting, a major Nvidia event and several important earnings reports. Futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq were up 0.7%, 0.9%, and 1.1%, respectively, in recent trading. Crude oil futures were down slightly from their highest levels in nearly four years (more on that below), while gold futures ticked lower to around $5,015 an ounce. Bitcoin was trading at $73,700 after reaching $74,400 earlier this morning, the cryptocurrency’s highest point in over a month. The 10-year Treasury yield dropped to 4.24% from 4.29% on Friday.
Oil Futures Slip As Volatile Trading Continues
Oil prices are lower this morning as investors continue to assess the potential impact of the Iran war on global supply. West Texas Intermediate futures, the U.S. crude oil benchmark, were down 2% at around $97 per barrel, after hitting $102 overnight. The market remains under pressure as the Strait of Hormuz, a major shipping route, is closed due to the war, offsetting moves by the international community to boost supply. President Trump pitched over the weekend plans for the U.S. and other countries to escort ships carrying oil through the Strait of Hormuz, but it remains unclear whether other countries have agreed to do so (more on that below).
Trump Seeks Help to Escort Oil Tankers Through Strait of Hormuz
The Trump administration is planning to announce a coalition to escort ships through the Strait of Hormuz, reopening the key oil shipping passage, sometime this week, The Wall Street Journal reported over the weekend. Trump told reporters Sunday that the U.S. has asked at least seven countries to assist with the plans, but didn’t say whether any were on board with the plan. A key factor in finalizing the plans is deciding whether the escorts would happen soon, or after the war is over, as several countries have been hesitant to join an effort with the risk of being shot at by Iranian forces or navigating through mines in the Strait, the Journal reported. Trump said Sunday that the U.S. “will remember” which countries agree and don’t agree to help escort the tankers.
Nvidia’s Annual GTC Event Kicks Off Today
Investors are likely to get a bevy of updates in the world of AI this week, as Nvidia’s (NVDA) annual GPU Technology Conference kicks off on Monday. Nvidia CEO Jensen Huang is scheduled to give a keynote address at 2 p.m. ET today, in which he could announce new Nvidia products or partnerships. Huang announced a number of product updates at last year’s event, and investors will be on the lookout this year for details on the company’s new chips, a platform for AI agents and developments related to robotics and physical-world applications of AI. Shares of Nvidia, the world’s most valuable company by market capitalization, have lost more than 3% so far this year amid concerns about the AI trade. The stock was up 1.5% in recent premarket trading.
Meta Is Reportedly Considering Big Layoffs
Meta Platforms (META) is considering another round of substantial layoffs, which could result in 20% or more of the social media giant’s workforce leaving the company, Reuters reported over the weekend. The report said Meta is looking to offset the cost of its massive investments into AI data centers and also prepare the company for improvements in efficiency it could see as a result of developing AI technology. In its latest annual filing, Meta said it had 78,865 employees at the end of 2025, which means the reported layoffs could exceed 15,000 workers. Meta has recently made cuts to individual divisions within the company including its metaverse efforts, the virtual reality project CEO Mark Zuckerberg once hailed as the future of the company. Several tech giants have laid off thousands of employees in recent years as the industry corrects from a pandemic hiring spree and looks to cut costs as it pours hundreds of billions into AI infrastructure. Meta shares were up 3% ahead of the opening bell.
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