Stock futures dip; Brent rises 3% to $78.44 after U.S.-Iran strikes

According to CNBC, U.S. stock futures edged lower Sunday night, with Dow Jones Industrial Average futures down 88 points, or 0.2%, S&P 500 futures off 0.2%, and Nasdaq-100 futures lower by 0.3%, as traders weighed escalating Middle East tensions and a heavy week of earnings. Iran and the U.S. traded airstrikes over the weekend, with Tehran saying it had closed the Strait of Hormuz, a claim President Donald Trump disputed on Sunday; Trump on Saturday ordered airstrikes against Iran after Iran attacked a commercial ship transiting the strait. In early trading, Brent futures rose 3% to $78.44 a barrel and West Texas Intermediate futures gained more than 3% to $73.92. Major banks including JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America, Citigroup and Wells Fargo are among 28 S&P 500 companies set to report earnings this week, with results from Netflix, Johnson & Johnson and UnitedHealth also due; FactSet data showed analysts on average estimate second-quarter S&P 500 profits grew by more than 23% year over year. The June CPI report is due Tuesday morning.