S&P 500, Nasdaq, Dow Futures Retreat Ahead Of High-Stakes US-Iran Talks: SLS, QS, NKE, JACK In Focus

The U.S. and Iran agreed to pause their attacks on Sunday, with the two sides reportedly expected to convene in Doha, Qatar, for negotiations on Tuesday.

• While U.S. President Donald Trump confirmed the meeting in a post on Truth Social, reports allege that Iran has denied the claims. 
• Meanwhile, technology stocks rebounded after a sharp selloff last week.
• Crude oil prices edged lower amid easing tensions in the Middle East but remained above $70 a barrel at the time of writing.

U.S. stock futures teetered in the overnight session late Monday, with the benchmark indexes inching lower after closing up in the regular session following a rebound in technology stocks.

Meanwhile, the US and Iran have agreed to halt strikes against each other as negotiations are reportedly set to take place in Doha, Qatar, later on Tuesday.

S&P 500 futures fell 0.20%, Dow futures were down 0.15%, and the Nasdaq 100 futures slumped 0.25% at 9:18 PM EDT.  

Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY) and the Invesco QQQ Trust (QQQ) were edging higher at the time of writing, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) was down.

The iShares 20+ Year Treasury Bond ETF (TLT) was trading down 0.05% amid ‘bullish’ sentiment.

How Did US Markets Fare On Monday?

U.S. stock markets finished Monday’s trading higher, with the S&P 500 and Nasdaq on track to record their best quarter since 2020, while the Dow Jones Industrial Average notched a new record, closing above 52,000 for the first time.

The Nasdaq index led the gains, adding more than 500 points to close 2.07% higher. The Dow added more than 300 points to close up about 0.59%, and the S&P 500 climbed 1.18% at close.

Index	Move	Close
Dow Jones Industrial Average	0.59%	52,182.74
S&P 500	1.18%	7,440.43
Nasdaq Composite	2.07%	25,820.14

US Market Drivers

U.S. stock markets climbed on Monday, aided by a rebound in technology stocks after last week’s bloodbath, in which major players, including the “Magnificent Seven” stocks, clocked multiple days in the red.

Alphabet Inc. (GOOG, GOOGL) popped nearly 5% at close after the Google parent joined the Dow, also helping lift the index. Amazon.com (AMZN), Meta Platforms Inc. (META), and Nvidia Corp. (NVDA) also closed higher. Meanwhile, the VanEck Semiconductor ETF (SMH) gained more than 3% and the iShares Semiconductor ETF (SOXX) rose by over 4% at close, reflecting a rotation into chip stocks even as market participants question the sustainability of AI gains.

“From our point of view, the sentiment is not terribly positive, and counterintuitively, that’s a good setup coming into earnings,” Julian Emanuel, senior managing director at Evercore ISI, said on CNBC on Monday. “We actually think that the broadening is likely to occur into earnings season amongst large cap technology.”

“Very often you see sort of a change of view, a change of positioning, particularly now at the start of the half year. We think the Mag Seven might be set up very favorably here. They have been left for dead,” he added.

Meanwhile, the U.S. and Iran agreed to pause their attacks on Sunday, with the two sides expected to convene in Doha, Qatar for negotiations on Tuesday.

“IRAN HAS REQUESTED A MEETING. IT WILL TAKE PLACE TOMORROW IN DOHA!” U.S. President Donald Trump said in a post on X. Meanwhile, media reports allege that Iran has denied the claims. Reuters reported earlier that while Iran’s technical delegation is going to Qatar this week, Foreign Ministry spokesperson Esmaeil Baghaei reportedly said it had "no relation" to the U.S. and that no talks were scheduled between the two sides.

On the economic front, markets will be watching the June non-farm payroll (NFP) report and the ISM Manufacturing PMI due later this week.

U.S. stock and bond markets will be closed on Friday, July 3, in observance of Independence Day.

Trending Stocks To Watch

Sellas Life Sciences Group (SLS): The pharma stock is on the retail radar this week as investors watch out for the upcoming Phase 3 REGAL trial results for galinpepimut-S, its acute myeloid leukemia (AML) immunotherapy. Shares of the company hit their highest level in over five years on Monday and continued to edge higher overnight.

QuantumScape Corp. (QS): The battery maker’s stock closed up 6% on Monday amid a rotation into the company following its recent multi-year agreement with Honda focused on solid-state battery development.

Nike Inc. (NKE): The company is garnering attention ahead of its fourth-quarter (Q4) earnings results due on Tuesday.

Jack In The Box, Inc. (JACK): The American restaurant chain jumped more than 20% at close on Monday after the stock was added to several FTSE Russell U.S. Index benchmarks during the June 2026 index reconstitution.

Global Market Trends

Crude oil prices declined late Monday over the latest developments in the Middle East, although trading at above $70 a barrel. At the time of writing, Brent crude futures expiring in August were trading 0.83% lower at around $72.54 per barrel. Meanwhile, WTI crude futures expiring in August fell about 0.72% to $70.24 per barrel.

Yields on the 10-year Treasury were at 4.374% at the time of writing, while spot gold prices declined to around $3,969.69 an ounce.

Asian markets traded mixed at the open on Tuesday. South Korea's KOSPI declined at the time of writing, while Japan’s Nikkei 225 and China’s SSE Composite index edged higher on the back of the tech rebound. Australian stocks also climbed higher at the open.

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