Global stock futures experienced a dip in early trading on Monday, following a week of gains on Wall Street. The market’s cautious sentiment appears to be influenced by rising oil prices, which surged after President Donald Trump decisively rejected Iran’s latest proposal aimed at de-escalating the ongoing conflict.

Futures contracts tied to the Dow Jones Industrial Average saw a slight decrease, while those for the S&P 500 and Nasdaq 100 also traded marginally lower. This movement comes after a strong performance for major U.S. indices last week, with the S&P 500 and Nasdaq Composite each recording their sixth consecutive week of gains. The Dow also extended its winning streak, marking its fifth positive week in the last six.

Last Friday’s trading session saw stocks advance, buoyed by positive U.S. jobs data that significantly surpassed economists’ expectations. The better-than-anticipated nonfarm payrolls report contributed to the S&P 500 and Nasdaq ending the week at all-time highs. However, the focus has now shifted to geopolitical developments, particularly the exchange between the U.S. and Iran.

According to reports, Iran submitted a proposal to U.S. negotiators that included demands for an end to the conflict on all fronts and the lifting of sanctions. President Trump publicly declared the response “TOTALLY UNACCEPTABLE” via a social media post, a statement that immediately impacted oil futures, driving them higher in overnight trading. Despite the heightened tensions, some market analysts suggest that the broader U.S. economy possesses strong structural components that could provide resilience against potential slowdowns stemming from the conflict and subsequent oil price fluctuations.

Looking ahead, investors will be closely watching upcoming economic data, including the April consumer and producer price indexes, for insights into inflation trends. Corporate earnings reports from companies such as Under Armour and Cisco will also be a key focus for traders this week. Meanwhile, in Asia-Pacific markets, South Korea’s Kospi index opened at a record high, leading regional gains amidst the geopolitical uncertainty and rising oil prices. Japan’s Nikkei 225 experienced choppy trading, while other markets showed mixed performance.