Market Overview - Stock futures are showing modest gains at the start of the week, indicating a potential rebound after five consecutive weeks of declines across major indexes [1] - Global markets displayed mixed results overnight, with significant declines in parts of Asia but more stable trading in Europe and U.S. futures, suggesting investors are adjusting to elevated oil prices [4] Energy Sector - The primary driver of market movements is the surge in crude oil prices, which have risen above $100 and are approaching the $110-$120 range due to the expanding Middle East conflict and intensified supply concerns [2] - Energy-related stocks are benefiting from the higher crude prices, while broader equity markets face challenges from rising yields and slower growth expectations [5] Inflation and Interest Rates - Higher energy prices are influencing inflation expectations and the outlook for interest rates, leading markets to price out the likelihood of Federal Reserve rate cuts this year [3] - The result of these dynamics is continued pressure on equity valuations, particularly in sectors sensitive to interest rates [3] Stock Movements - In pre-market trading, S&P 500 futures rose by 0.79%, Nasdaq futures increased by 0.78%, and Dow futures gained 0.77% [5] - Specific stocks showing notable movements include iQiyi (IQ) up 10% after submitting a listing application to the Hong Kong Stock Exchange, and Expedia (EXPE) up 3% following an upgrade from Jefferies [9]