Geopolitical tensions remained the undercurrent in the market as major index futures traded nearly flat in the overnight session. As the strife between Israel and Iran entered its sixth day, the market took stock of President Donald Trump’s call for Iran’s “unconditional surrender” and a couple of other related posts on his Truth Social handle.

The sharp pullback came as global investors reacted to headlines of escalating military conflict in the Middle East, with Israel and Iran trading lethal missile barrages. US crude climbed 1.21% to $72.64 per barrel, extending gains from last week as markets priced in potential disruptions to energy supply chains.

The stock market fell Tuesday as President Donald Trump called for Iran's "unconditional surrender." Tesla was a notable loser. Fed chief Powell is on tap.

Stocks were lower on Tuesday as investors pored through the latest developments in the Middle East, with the conflict between Israel and Iran raging on.

The major averages posted modest gains on Thursday, placing them on track for a winning week. Softer-than-anticipated inflation reports helped lift stocks.

U.S. futures for the S&P 500 were down 0.6% and futures for the Dow Jones Industrial Average declined 0.7%. Changes in futures do not necessarily predict movements after the opening bell.

Stock futures fell sharply early Thursday, pointing to a rocky open as Wall Street grapples with a tragic plane crash involving Dow component Boeing (BA) and digests a blockbuster earnings report from software giant Oracle (ORCL).

US stock futures slipped as Wall Street assessed easing tensions between the US and key trading partners as well as softening inflation.

U.S. stocks appear set for a positive opening on Monday as the ongoing Israel-Iran conflict spared crude oil capacity over the weekend, resulting in oil prices simmering down. Crude oil prices surged by nearly 13% on Friday as Israel and Iran broadened their strikes.