Wall Street's Tango: Oil Drops, Fed Holds as Markets React

U.S. stock index futures saw a rise on Monday, buoyed by falling oil prices though tensions remain high between Israel and Iran. Markets are looking towards the Federal Reserve meeting for further direction.

Despite heightened geopolitical tensions, the oil market remained stable as crude prices retreated from their peak following airstrikes, which did not impact production facilities. This development has alleviated some inflation fears among investors.

Key economic indicators this week, including retail sales and jobless claims, will inform traders who are anticipating potential rate cuts by the Fed this year. Meanwhile, recent market fluctuations also reflected corporate shifts, notably Trump's new mobile network affecting telecom shares.

(With inputs from agencies.)