US pre-open: Futures point to more losses as Middle East tensions weigh
US futures were pointing to losses ahead of the bell on Monday as geopolitical tensions remained at the forefront of investors' minds.
As of 1220 GMT, Dow futures were down 0.63%, while S&P 500 and Nasdaq-100 futures were down 0.58% and 0.71%, respectively.
The Dow closed 233.92 points lower on Friday as stocks recorded some heavy losses after Tehran vowed to retaliate for a White House airstrike that killed top Iranian commander General Qasem Soleimani.
Following the news, oil prices surged and gold prices hit a seven-year high as markets sought refuge in traditional safe havens.
US President Donald Trump said on Sunday that he would look at slapping sanctions on Iraq after its parliament passed a resolution calling for the expulsion of US troops from the country.
"We have a very extraordinarily expensive airbase that’s there. It cost billions of dollars to build. Long before my time. We’re not leaving unless they pay us back for it," said Trump.
Oanda analyst Craig Erlam said: "Unfortunately, the rhetoric from all sides appears to be heating up rather than cooling and retaliation looks almost inevitable.
"Now is a time for calm heads and I'm afraid there doesn't appear to be many of those around."
On the data front, activity will be quite thin, with just IHS Markit's December composite and services PMIs set to be published at 1445 GMT.
In corporate news, Boeing shares were 1.07% lower in pre-market trading after the aerospace giant was said to be considering raising debt as a result of the ongoing 737 Max crisis.
Cal-Maine Foods and Commercial Metals will both report earnings.