U.S. stock futures opened the week in the red as Federal Reserve Chair Jerome Powell alleged the Justice Department is weaponizing a probe into central bank renovations. Powell claims a criminal indictment threat over cost overruns at the Fed's Washington headquarters is actually a pretext for political intimidation. This attack on the Fed's independence sent investors scrambling for safety, pushing gold higher and weakening the U.S. dollar.

The move comes as President Donald Trump continues to pressure the central bank for aggressive rate cuts and the Supreme Court prepares to hear arguments on removing Governor Lisa Cook. Meanwhile, oil prices held steady amid growing unrest in Iran, a major producer, raising fears of supply disruptions. In corporate news, Apple captured the top spot in the global smartphone market for 2025, driven by strong iPhone 17 sales and outpacing rival Samsung.

The broader market is now bracing for a busy week of economic data and quarterly earnings reports from major banks.