US Stock Futures Rebound and Oil Falls More Than 4% on Iran Talks Hopes; Apple Reports After the Bell

As of 8:42 a.m. ET, Monday, Nov. 2, 2026

U.S. stock futures rose early Monday after Wall Street's worst day since June, and oil prices fell more than 4% on renewed hopes for diplomacy to end the U.S.-Israeli war on Iran.

At 5:15 a.m. ET, Dow E-minis were up 270 points, or 0.52%, S&P 500 E-minis were up 39.75 points, or 0.52%, and Nasdaq 100 E-minis were up 253.5 points, or 0.89%, Reuters reported. Technology and AI-related stocks steadied after a dismal October in which the Nasdaq-100 shed more than $2.5 trillion in market value, according to Reuters.

On Friday, the S&P 500 fell 1.8%, the Nasdaq composite dropped 2.9% and the Dow Jones Industrial Average slid 1.1% as investors dumped AI-related and other technology stocks, The Associated Press reported.

Oil slides on Iran-Qatar talks

Brent crude futures fell $4.79, or 4.2%, to $108.64 a barrel by 5:20 a.m. ET, and U.S. West Texas Intermediate crude traded at $99.71, down $4.41, or 4.2%, according to Reuters. In AP's earlier report, Brent was down 3.9% at $109.01 and U.S. crude was down 4.1% at $99.82. AP noted that is still far above the roughly $72 a barrel Brent traded at in late February, before the war.

The drop came as Iranian and Qatari officials talked about a deal to end the war. An official briefed on the talks told Reuters that Iranian negotiators had left the talks with Qatari mediators, that a draft proposal was being circulated and that a follow-up meeting was possible. Iranian Foreign Minister Abbas Araqchi said Sunday that the talks were "ongoing and progressing," Reuters reported.

Araqchi also said in an interview shared on his Telegram channel that a proposal under discussion could reopen the Strait of Hormuz within two days if the U.S. meets several conditions, but that no direct talks were being held with the U.S., AP reported.

"Lingering hopes of some form of diplomatic progress, combined with the absence of any meaningful military escalation over the weekend, have taken some of the immediate heat out of prices for now," Tim Waterer, chief market analyst at KCM Trade, told Reuters.

Global markets mixed

In early European trading, Britain's FTSE 100 was down 0.1%, while Germany's DAX and France's CAC 40 each rose 0.1%, AP reported. In Asia, Japan's Nikkei 225 slipped 0.3% and South Korea's Kospi rose 2.2%.

Apple after the bell

Apple will hold a conference call to discuss its fiscal fourth-quarter results at 2 p.m. PT (5 p.m. ET) Monday, according to the company's investor relations page. John Ternus, who succeeded Tim Cook as CEO in September, will lead the call, Reuters reported.

Analysts expect revenue to rise nearly 11% to $113.39 billion for the July-September quarter, according to LSEG data cited by Reuters. Investors will be watching Apple's holiday-quarter outlook, its AI and Siri plans, and the effect of rising memory-chip costs. Apple shares were down 0.4% in premarket trading, Reuters reported.

Also today

The U.S. ISM manufacturing report for October and September construction spending are due Monday, Reuters' Wayne Cole wrote. Investors are also watching Tuesday's U.S. midterm elections. Estée Lauder and Marriott International are among the companies reporting before the opening bell, according to Reuters.