Dow futures slide about 180 points before open

U.S. stock futures opened lower Monday as markets returned from the Juneteenth holiday. S&P 500 futures were down about 0.5%, Nasdaq-100 futures fell roughly 0.6% and Dow futures slipped near 0.4%, or about 180 points. The Nasdaq gained 2.4% last week, led by AI-linked names, and traders pared risk as they watched Treasury yields and this week’s economic calendar.

Oil prices dropped as much as 2% after Washington and Tehran agreed to a roadmap aimed at negotiating a final deal within 60 days. The development eased immediate concerns about supply disruptions around the Strait of Hormuz and removed some upward pressure on inflation expectations.

Memory chipmakers were among the stronger premarket performers. Micron Technology and SanDisk rose about 3.5% each, while Intel climbed near 4%. Micron is scheduled to report quarterly results on Wednesday, which investors view as a test of demand tied to AI workloads and of margins across the semiconductor supply chain.

Attention is focused on Thursday’s personal consumption expenditures report, the Federal Reserve’s preferred inflation gauge. Investors will compare the PCE reading with moves in Treasury yields and recent commentary from Fed officials as markets price in roughly a quarter-point rate increase by September.

Company-specific news moved individual stocks. Apogee Therapeutics jumped after reports that AbbVie was nearing a deal to buy the inflammatory-disease drug developer for about $10.9 billion. SpaceX shares extended recent losses following a strong market debut, illustrating how corporate events continue to affect single stocks even amid broader macro drivers.

Key items for the week include Micron’s earnings, the PCE inflation report, any further developments in U.S.-Iran talks and shifts in Treasury yields. Investors are tracking those events for information on demand trends, inflation and monetary policy.