Dow Jones and Nasdaq futures called higher despite mixed message on Iran war

• All three major US indices are down 7.5-7.9% from recent highs after four weeks of Middle East conflict, with WTI crude oil climbing 1.7% to $101.30 as concerns persist around the Strait of Hormuz, through which a fifth of global oil passes
• US Secretary of State Marco Rubio told G7 members to expect the war to continue for two to four weeks, while Iran dismissed US proposals as 'unrealistic, illogical and excessive' and Trump suggested potential military operations including seizing Iran's oil infrastructure
• European markets opened higher with London's FTSE up 0.9%, while Asian markets were more cautious with Japanese and Indian benchmarks falling over 2%, as investors navigate geopolitical uncertainty ahead of quarter-end and Friday's Non-Farm Payroll release

Market Summary: US Futures Rise Amid Middle East Conflict

Market Movement:

US stock futures pointed to a firmer open on Monday, March 30, 2026, with Dow Jones, S&P 500, and Nasdaq futures all up approximately 0.6%. This follows a brutal week where indices suffered losses between 2.8% and 5.25%. The Nasdaq closed Friday at 20,948 (down 2.15%), while the Dow finished at 45,166 (down 450+ points). From recent highs, the S&P and Dow are down 7.5%, with the Nasdaq off 7.9%.

Global Markets:

European markets opened higher, with London's FTSE up 0.9% and Germany's DAX gaining 0.3%. Asian markets showed caution, with Japanese and Indian benchmarks falling over 2%, though Shanghai stocks edged slightly higher.

Geopolitical Tensions:

The fifth week of Middle East conflict continues to impact markets. Secretary of State Marco Rubio expects the war to continue for 2-4 additional weeks. Iran's foreign ministry rejected US proposals as "unrealistic, illogical and excessive." President Trump indicated a potential deal is possible but told the Financial Times he'd prefer "to take the oil in Iran," suggesting ground troops could seize Kharg Island. The Wall Street Journal reported Trump is weighing a military operation to extract Iran's uranium stockpiles.

Commodity Impact:

WTI crude rose 1.7% to $101.30 per barrel as Gulf concerns persist. Foreign ministers from Pakistan, Egypt, Saudi Arabia, and Turkey met to discuss reopening the Strait of Hormuz, through which approximately 20% of global oil passes.

Week Ahead:

Markets face quarter-end tomorrow in a holiday-shortened week, with critical Non-Farm Payroll data releasing Good Friday.