U.S. stock index futures slipped on Monday as a growing conflict between Israel and the Palestinian Islamist group Hamas roiled global markets and pushed investors toward safe-haven assets, while crude prices jumped close to 3%.
Israel's troops were still fighting to recapture towns from Hamas gunmen who killed 700 Israelis and seized hostages, even as the country responded with its heaviest ever bombardment of the Gaza strip, killing more than 400 people.
Traditional safe-haven assets including gold and the U.S. dollar gained, while the growing uncertainty pushed crude prices higher. U.S. energy companies, including Chevron, Exxon Mobil, Marathon Oil and Occidental Petroleum , jumped between 2.1% and 3.7% in premarket trading as oil prices rose more than $3 a barrel.Megacap stocks, including Apple, Microsoft , Nvidia, Meta Platforms, Alphabet and Amazon.com, dipped 0.3% to 2.1%.
Later in the day, investors will also keep an eye on speeches by Fed Vice Chair Philip Jefferson and Vice Chair for Supervision Michael Barr.
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