Stock Futures Held Hostage by Resurgent Oil Prices

Stock futures are lower across the board this morning, unable to build on weekly wins after U.S.-Iran hostilities escalated over the weekend. MS NOW confirmed last night that the U.S. struck two rocket launchers on Iran’s Larak Island, sending front-month crude up 3.9% in response. At last look, Dow Jones Industrial Average (DJI), S&P 500 (SPX), and Nasdaq-100 Index (NDX) futures were all in the red , though all three major indexes are still on track for an August win. 

Continue reading for more on today's market, including:

• Caterpillar stock could stop its slide this month.
• Keep an eye on this GOOG chart level. 
• Plus, oil stocks rise; PG&E's legal setback; and a C-suite shakeup dings PINS. 

5 Things You Need to Know Today

1. The Cboe Option Exchange saw roughly 3.1 million call contracts and 1.9 million put contracts traded on Friday. The single-session equity put/call ratio rose to 0.62, while the 21-day moving average remained at 0.59. 
2. Exxon Mobil Corp (NYSE:XOM) stock is 2.1% higher before the bell, as energy companies rise across the board amid escalating Middle East tensions. The blue-chip oil stock is up 30% in 2026 but is fresh off a weekly loss of 5%.
3. PG&E Corp (NYSE:PCG) stock is down 16.5% ahead of the bell, after California lawmakers blocked a proposal that would have curbed the money defendants could get from utility companies that ignite wildfires. Mizuho and BMO issued downgrades to "neutral" and "market perform," respectively. PCG is set to breach its year-to-date breakeven level and is eyeing a four-day losing streak.
4. The shares of Pinterest (NYSE:PINS) are 3.1% lower in electronic trading, after in an SEC filing the company disclosed CFO Julia Donnelly will resign, effective Oct. 30. PINS is nursing a 10% year-to-date deficit and has traded in a tight range between $22-$24 nearly all summer.
5. The earnings slate is piled high this week.

Oil Curbs Overseas Gains

Asian markets were mixed on Monday, as investors weighed rising oil prices and fresh economic data. Japan's Nikkei slipped 0.1%, despite July retail sales rising a better-than-expected 4% year over year and industrial production unexpectedly edging 0.1% higher. South Korea's Kospi added 0.5%, while China's Shanghai Composite rose 0.9%. Hong Kong's Hang Seng dipped 0.07%, as investors looked ahead to Shein's Tuesday trading debut following its $1.7 billion initial public offering (IPO).

European markets are also mixed at midday, as a more than 3% jump in oil prices amid renewed U.S.-Iran attacks fueled inflation and interest-rate concerns. Notably, borrowing costs across the euro zone and Japan climbed to multi-year highs. London's FTSE 100 is up 0.3%, while France's CAC 40 is 0.1% higher. Germany's DAX is down 0.7%.