Futures on Wall Street are currently in cautious mode as they await further details on the ongoing hostilities between Israel and Iran, which have now entered the fourth day. Futures of all three indices are currently trading at the flat line,

Stock futures wavered before Monday's session as the escalating conflict between Israel and Iran spiked oil prices and raised investors' concerns about the global economy. Dow Jones Industrial Average futures shed 56 points, or 0.1%. S&P 500 futures lost 0.1%, while Nasdaq 100 futures traded around their flatline.

"It is noteworthy that while the Israelis have attacked Iran's natural gas processing facility, which fuels its power grid, it hasn't as of now hurt its oil export facilities," said Eric Beyrich, portfolio manager at Sound Income Strategies. Of the early market moves, he said "this could all change as the day unfolds."

The Fed is also facing increasing pressure from President Donald Trump to cut interest rates. The central bank had cut rates by a total of 1% in 2024, but forecast a much slower pace of cuts in 2025 due to uncertainty over inflation and the economy. A bulk of this uncertainty stemmed from Trump’s trade tariffs and their potential impact.

What to expect for the upcoming holiday-shortened week.

Stock futures decline before Monday's session as the escalating conflict between Israel and Iran spiked oil prices and raised investors' concerns about the global economy. Dow Jones Industrial Average futures shed 184 points, or 0.4%. S&P 500 futures lost 0.4%, while Nasdaq 100 futures dropped 0.4%.