US stock futures open tonight: Trump rejects Iran’s proposal, oil at $97.61

Futures contracts for US stocks begin trading tonight, Sunday evening, as tensions between Washington and Tehran flared again following an exchange of harsh statements on talks to end the war with Iran, as Barron’s reports.

President Donald Trump said Saturday in an interview with Fox News that he had rejected Iran’s proposal to reopen the Strait of Hormuz, calling it “unacceptable.”

Iranian Foreign Minister Abbas Araghchi said Sunday on NBC’s “Meet the Press” that “there is always hope for diplomacy,” but added in harsh tones: “We sincerely have no reason to return to diplomacy with this administration, because of its behavior over the last two years.”

For his part, US Ambassador to the United Nations Mike Waltz said on “Meet the Press” that Trump would “keep all options on the table,” while describing Iran’s demands for lifting the naval blockade and sanctions, as well as unfreezing assets, as “unacceptable.”

Brent crude closed Friday up 0.2 percent at $97.61 a barrel, while US WTI held at $92.41. Meanwhile, the average price of gasoline in the United States was $4.48 a gallon on Sunday, up from $4.10 a month ago and $3.14 a year ago, according to AAA data. Diesel averaged $6.47 a gallon.

In the coming week, investors will await Wednesday’s August PCE inflation index — economists forecast 3.7 percent annually and 3.3 percent core — while Friday brings the September jobs report, with expectations of 100,000 new jobs and 4.1 percent unemployment.

Last week ended on positive notes: the Dow Jones rose 0.3 percent, breaking a three-week losing streak and posting its biggest weekly gain since late August; the index is 7.8 percent higher since the start of the year. The S&P 500 rose 1.2 percent, breaking two losing weeks, and is 13.1 percent higher in 2026, while the Nasdaq gained 2.1 percent and has advanced 16.5 percent this year.