Stocks Down Pre-Bell as Traders Weigh Renewed US-Iran Tensions

07:24 AM EDT, 09/01/2026 (MT Newswires) -- US equity futures were tracking in the red on Tuesday as investors weigh Middle East tensions after the US and Iran recently exchanged strikes. The SP 500 and the Dow Jones Industrial Average declined 0.5% each in premarket activity, while the Nasdaq was off 0.8%. The indexes finished the previous trading session lower. President Donald Trump reportedly told Fox News on Monday that the US will respond to Iran's attacks on its military bases in the Middle East. "We're going to hit them hard," Trump reportedly said. "There will be a response." Iran reportedly attacked US bases in Jordan and the United Arab Emirates on Monday, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island. The US attack was the first confirmed military strike against Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Tehran. Iranian President Masoud Pezeshkian reportedly said Monday that Iran is not seeking to engage in a war with the US, but will respond firmly to any acts of aggression. West Texas Intermediate crude oil rose 2.7% to $88.05 a barrel before the opening bell, while Brent increased 2.2% to $92.47. The UK Maritime Trade Operations said Monday that a tanker was reported to have been struck by three unknown projectiles while transiting the Strait of Hormuz. "These developments have once again reduced the prospects of bringing the conflict to an end," Saxo Bank said in a Monday report. "However, with an estimated (6 million to 8) million barrels per day of crude flowing through the strait, the upside risk is for now being capped." Treasury yields were trending higher in premarket action, with the two-year rate gaining 1.2 basis points to 4.36% and the 10-year rate adding 3 basis points to 4.79%. Traders also await the first batch of fresh labor data this week, with the Job Openings and Labor Turnover Survey for July out at 10 am ET. The ADP Employment report, the Challenger, Gray Christmas job cut report and the government's nonfarm payrolls data, all for August, are due later in the week. US nonfarm payrolls are projected to rebound stronger than expected in August, Oxford Economics said in a note Monday, describing labor market conditions as balanced. The brokerage expects nonfarm payrolls to have increased by 95,000 in August, compared with the Bloomberg-polled consensus of a 55,000 increase. Tuesday's economic calendar also has the final Purchasing Managers' manufacturing index for August at 9:45 am, followed by the Institute for Supply Management's manufacturing index for the same month at 10 am. Federal Reserve Governor Michael Barr is slated to speak at 9:05 am. Shares of GoPro (GPRO) surged 89% pre-bell following media reports that YouTube creator Mark Fischbach has become the company's largest single shareholder. Robinhood Markets (HOOD) inclined 1.9%. Palo Alto Networks (PANW), Dell Technologies (DELL), Credo Technology (CRDO) and MongoDB (MDB) are expected to release their latest financial results after the markets close Tuesday. Medtronic (MDT) posts earnings before the bell, among others. Gold slipped 1.3% to $4,423 per troy ounce, while bitcoin decreased 1.4% to $77,924.