[Pre-Market US Stocks] Dow Futures down 492 points, Nasdaq Futures down 1.1% Oil prices surge over 10%, breaking $100 per barrel Markets open one hour earlier for daylight saving time (updating continuously)

Iran conflict drives oil prices soaring, with Brent crude futures rising nearly 30%, briefly approaching $120 per barrel before gains narrowed. Affected by the oil crisis gloom, U.S. stock three major indices traded lower pre-market, with Dow futures down 492 points at 47,025, S&P 500 futures down 67 points at 6,676, and Nasdaq futures down 279 points or 1.1% at 24,391. Today, the U.S. will release the New York Federal Reserve’s 1-year inflation expectations. Key economic data this week include Wednesday’s February CPI and Friday’s PCE Price Index.

Additionally, U.S. markets have entered daylight saving time, opening one hour earlier at 9:30 p.m. Hong Kong time.

Hong Kong stocks and ADR market updates, see: Next page

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Market Trends:

[12:07] Dow futures down 1,006 points, at 46,511; S&P 500 futures down 130 points, at 6,613; Nasdaq futures down 542 points or 2.2%, at 24,127.

[12:07] [Iran Crisis] Iran conflict impacts financial markets; senior strategist Yardeni: Probability of a crash-style decline in U.S. stocks by year-end increases to 35%.

[11:15] [700] Tencent reportedly plans to acquire Warner Bros. from Paramount, exploring a multi-billion dollar deal.

[10:33] [Iran Crisis] Oil prices surge past $100, with NYMEX crude jumping 30%; major Middle Eastern oil producers cut output.

[10:20] [Iran Crisis] Oil price spike drags down Asia-Pacific stocks; “Black Monday” in the region, Japan and South Korea both fall over 7%; South Korea reportedly considers implementing oil price caps.

[09:56] [Iran Crisis] JPMorgan: Middle Eastern oil capacity expected to decrease by 4 million barrels per day by next weekend.

[09:50] [Iran Crisis] Schroders’ Alex Tedder: Oil may reach $100; “I won’t reduce energy stocks in the next two or three years.”

[08:17] [Iran Crisis] Gold drops over 2%, testing $5,000 level; rising oil prices intensify inflation concerns.

[07:30] [Iran Crisis] Black Monday begins, oil prices surged 20%, surpassing $111; Trump: “Small price to pay”; Dow futures plunge 1,112 points (updating continuously).

[07:30] [Global Outlook] Focus on Middle East conflict and U.S. inflation data; U.S. markets open one hour early for summer time.

[07:30] Concerns over oil supply disruptions and worse-than-expected U.S. employment data caused last Friday’s sharp decline in stocks, with the Dow dropping 945 points to 47,009; the VIX volatility index spiked 21.6% to 28.88. The Dow closed down 453 points, S&P 500 fell 1.33%, and Nasdaq declined 1.59%.

See U.S. stock market close:

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Last week’s U.S. stock movements, details at: [U.S. Stock Market Close] Iran claims to have fired missiles at “Lincoln” and Brent crude surpasses $92; poor employment data causes Dow to fall 453 points and Nasdaq to drop 1.6%.

Financial Hot Topics

Middle East conflict threatens oil supply; will oil prices break $100? Could this impact the global economy?