U.S. stock index futures edged higher on Monday as easing oil prices helped calm sentiment despite ongoing attacks between Iran and Israel and increased focus on the upcoming Federal Reserve meeting.

Market Snapshot

At 7:50 a.m. ET, S&P 500 E-minis were up 39.25 points, or 0.65%, Nasdaq 100 E-minis rose 164 points, or 0.75%, and Dow E-minis added 243 points, or 0.57%.

Pre-Market Movers

Tesla - Tesla was up 1.9% in premarket trading. The electric-vehicle company closed Friday with a gain of 1.94% and ended up 10% for the week. The stock has fallen 19% this year. CEO Elon Musk said last week that Tesla’s robotaxi service launch in Austin, Texas, was slated for June 22.

Nvidia - Shares of Nvidia, the leading maker of artificial-intelligence chips, were rising 0.9% in the premarket session. The stock rose 0.2% last week and has risen for three consecutive weeks.

Palantir - Palantir shares rose 2.3% as defensive plays rally in a market concerned about geopolitical risk. Investors are worried about inflation and geopolitical risks, which could propel yields higher, but companies considered defensive stocks are rallying.

Crypto Stocks - Crypto stocks shined in premarket trading as Bitcoin briefly topped $107,000. SharpLink Gaming rose 23%; Circle rose 9%; Coinbase and Riot Platforms rose 2%; MARA Holdings and Strategy rose 1%.

U.S. Steel - Nippon Steel’s purchase of U.S. Steel was approved after the companies signed an agreement with the Trump administration that resolves national-security concerns. The pact gives the government a so-called golden share, granting it authority over U.S. Steel’s production and trade matters. Nippon Steel also will make around $11 billion in new investments over the next three years and has committed build a new steel mill after 2028 that would boost the total investment to $14 billion. U.S. Steel shares were up 5.1%.

EchoStar - US President Donald Trump has intervened to push EchoStar Corp. and Federal Communications Commission Chairman Brendan Carr to resolve a dispute over the satellite communications company’s valuable spectrum licenses. EchoStar shares surged 43.7% in premarket trading.

Sarepta Therapeutics - Sarepta Therapeutics was tumbling 37.7% after suspending shipments of Elevidys for infusions in non-ambulatory patients because of the death of a second patient from acute liver failure. The patients in both cases had Duchenne muscular dystrophy and were unable to walk. Sarepta voluntarily has paused dosing in a clinical trial and was “taking immediate, decisive steps to better understand and mitigate the risk of acute liver failure, including enhancing the immunosuppressive regimen,” said Louise Rodino-Klapac, Sarepta’s chief scientific officer.

Victoria's Secret - Victoria’s Secret gained 3.3%. Activist investor Barington Capital Group has built a stake in the lingerie retailer, saying it believes that Victoria’s Secret hasn’t lived up to its full potential, The Wall Street Journal reported, citing people familiar with the matter.

Incyte - Incyte was rising 10.5% after the biotech company released data from two studies of its monoclonal antibody treatment INCA033989 that showed “rapid and durable normalization of platelet counts across all dose levels” in patients with mutant calreticulin-expressing myeloproliferative neoplasms, a group of rare blood cancers.

Lennar - Home builder Lennar is scheduled to report fiscal second-quarter earnings after the closing bell Monday. Lennar was up 0.5% in premarket trading.

Market News

Trump Says Israel, Iran May Need to "Fight It Out" Before Deal

US President Donald Trump said he believed it’s possible Israel and Iran could reach an agreement to end their conflict, though the two sides may need to continue fighting before they’re ready to broker a peace deal.

“Sometimes they have to fight it out, but we’re going to see what happens,” Trump told reporters at the White House on Sunday as he departed for the Group of Seven leaders’ summit in Canada.

“I think there’s a good chance there’ll be a deal,” the president added.

Trump’s comments come as Israel signaled that it would not let up in its military campaign to destroy Tehran’s nuclear capabilities and with Iran stepping up its retaliation. The two nations have been exchanging attacks, with Israel on Sunday striking the capital Tehran. Iran, in turn, has launched several waves of drones and missiles.

Trump Says US "Could Get Involved" in Iran-Israel Conflict

President Donald Trump said that it’s possible the US could become involved in the Israel-Iran conflict.

“It’s possible we could get involved,” Trump said in an interview with ABC News on Sunday. He noted that the US is “not at this moment involved.”

The US has jet fighters, ships and ground-based air-defense systems positioned near the warring countries to help counter any Iranian attack on American assets or people. It has not yet openly assisted Israel in its strikes, but has helped the country defend itself.

China Retail Sales Jump Most Since 2023 in Relief From Tariffs

China’s retail sales growth unexpectedly accelerated as the economy rode out the tariff rollercoaster in May, offering a confidence boost to Beijing as it stares down the threat of a prolonged trade war with the US.

Retail sales grew 6.4% last month, the fastest pace since December 2023 and exceeding all estimates, according to official data released Monday. That helped offset a mild slowdown in industrial output, which climbed 5.8% and less than the previous month as Donald Trump’s tariffs hurt demand from the world’s largest economy.

The latest snapshot of the economy offers the fullest glimpse yet into how China coped with the turmoil unleashed by Trump’s trade war. A tariff truce reached by Beijing and Washington in mid-May gave temporary relief to exports from China that would have faced duties of as much as 145% from the US.

EU Prepared to Accept Flat 10% US Tariff with Conditions, Handelsblatt Reports

Brussels negotiators hope that offering to accept U.S. tariffs of 10% across all of the European Union's exports into the United States will avert any higher duties on cars, drugs and electronics, newspaper Handelsblatt reported on Monday.

Citing high-ranking EU negotiators, the paper said the offer to U.S. counterparts would come only under certain conditions and would not be billed as permanent.

Handelsblatt also said the EU was, in return, ready to cut its tariffs on U.S.-made vehicles, and to possibly change technical or legal hurdles to make it easier for U.S. manufacturers to sell their cars in Europe.