Stock market today: Dow, S&P 500, Nasdaq futures slammed as oil prices surge to over $100 a barrel

Market Overview - US stock futures experienced a significant decline at the start of the week, with the Dow futures dropping approximately 2.1%, S&P 500 futures falling 1.7%, and Nasdaq-100 futures decreasing around 1.5% [1] - The Dow closed out its worst weekly decline in nearly a year, losing roughly 3% last week, marking its steepest drop since April 2025 [3] Energy Market Impact - Crude oil prices surged past $100 a barrel, with US benchmark West Texas Intermediate crude rising about 13% to over $103 per barrel, and global benchmark Brent crude climbing approximately 10% to $102.31 [2] - The spike in oil prices was attributed to reduced output and the closure of the Strait of Hormuz shipping corridor, with Kuwait confirming production cuts and Iraq's output reportedly plunging about 70% [2] Economic Indicators - Investors are closely monitoring upcoming domestic economic reports, including Wednesday's Consumer Price Index and Friday's personal consumption index, to assess the impact of rising oil prices on US consumers [4] Corporate Earnings - The earnings season is ongoing, with Hewlett Packard Enterprise (HPE) expected to report results after Monday's closing bell, and additional reports from Oracle (ORCL), Adobe (ADBE), and Dick's Sporting Goods (DKS) scheduled for the week ahead [4]