Stock futures are little changed after Nasdaq snaps 13-day win streak: Live updates

U.S. stock futures were little changed on Monday night after the Nasdaq Composite snapped a 13-day win streak during the regular session.

S&P 500 futures and Nasdaq 100 futures added 0.1% and 0.2%, respectively. Futures tied to the Dow Jones Industrial Average rose by 81 points, or 0.2%.

All three major averages ended Monday lower after tensions between the U.S. and Iran escalated over the weekend. The S&P 500 slipped 0.24%, while the Dow Jones Industrial Average shed 4.87 points, or 0.01%. The Nasdaq Composite lost 0.26%, breaking its longest positive streak since 1992.

The moves came after President Donald Trump said on Sunday said the U.S. had struck and seized an Iranian-flagged cargo ship in the Gulf of Oman. This followed Iran saying it wouldn’t participate in a new round of peace talks with the United States. The ceasefire between the U.S. and Iran is due to expire this week.

But despite this ramp-up in tensions and Monday’s losses, investors remain bullish on the broader picture ahead for equities.

“We still think that the market is going to overshoot to the upside. We have our upside target of 7,300 by July, which is basically our year-end target,” Ohsung Kwon, chief equity strategist at Wells Fargo, said on CNBC’s “Closing Bell: Overtime” on Monday afternoon. “I think the economy is going to be fine for the next three months.”

Kwon’s 7,300 price target for the S&P 500 would represent an upside of 3% from the index’s Monday close.

A slew of companies report earnings before Tuesday’s bell, including UnitedHealth, Danaher, GE Aerospace, 3M, Northrop Grumman, Halliburton, Quest Diagnostics, RTX, Tractor Supply and Genuine Parts. March’s retail sales data will be released as well on Tuesday morning.

Also of interest is Federal Reserve chair nominee Kevin Warsh‘s confirmation hearing. In his prepared statement to the Senate Banking committee, released Monday, the former Fed governor said the U.S. central bank must be largely independent of political influence, while also staying focused on its primary goals.

“The Fed must stay in its lane,” he said. “Fed independence is placed at greatest risk when it strays into fiscal and social policies where it has neither authority nor expertise.”