A retreat in oil prices is offering relief to bond yields as investors await details on Treasury Secretary Scott Bessent's stepped-up economic pressure campaign against Iran. Scott Bessent is expected to outline plans to inflict an "economic D-Day" on Iran at a press conference this afternoon. Brent crude futures are on pace to break six straight sessions of gains, and the dollar has paused its recent slide. Meanwhile, Wall Street stock futures are starting the week on a sour note, led by losses in Nasdaq-100 contracts. That followed a slide in major tech shares in New York, including Super Micro after it launched a $10.2 billion share sale to fund its AI spending.

Chip maker Samsung also tumbled after its largest-ever shareholder return plan fell short of market expectations. This will be a big week for traders, with Nvidia earnings on Wednesday and Fed Chairman Jerome Powell's speech at Michigan on Friday. The Fed's preferred inflation gauge is also due out Wednesday.