Markets

5 things to know before the stock market opens Monday

1. Dow to open lower on concerns over US-Iran tensions

Traders work on the floor of the NYSE.
Brendan McDermid | Reuters

U.S. stock futures were pointing to another lower open on Wall Street on Monday, with Iran threatening retaliation for last week's deadly U.S. drone strike targeting Iran top general, Qasem Soleimani. On Friday, the Dow Jones Industrial Average broke a two-session winning streak on news that Soleimani was killed late Thursday in Iraq while he was leaving Baghdad airport. However, heading into Monday trading, the Dow was still less than 1% from record highs. Oil prices were more than 1% higher on Monday after soaring 3% on Friday on concerns over how escalating U.S.-Iran tensions may impact crude out of the Mideast.

2. Trump threatens Iraq with sanctions over a resolution passed in parliament

This photo released by the Iraqi Prime Minister Press Office shows a burning vehicle at the Baghdad International Airport following an airstrike in Baghdad, Iraq, early Friday, Jan. 3, 2020. The Pentagon said Thursday that the U.S. military has killed Gen. Qassem Soleimani, the head of Iran's elite Quds Force, at the direction of President Donald Trump.
Iraqi Prime Minister Press Office via AP

The Iraqi parliament passed a measure calling for the government to expel foreign troops from the country following the Soleimani killing in Baghdad. In response, President Donald Trump threatened to impose sanctions on Iraq if it were to follow through on that resolution. "If they do ask us to leave, if we don't do it in a very friendly basis, we will charge them sanctions like they've never seen before ever. It'll make Iranian sanctions look somewhat tame," Trump told reporters on Air Force One.

3. Pelosi says House to vote on limiting Trump's military powers regarding Iran

Speaker of the House Nancy Pelosi, D-Calif., conducts her weekly news conference in the Capitol Visitor Center on Thursday, December 19, 2019.
Tom Williams | CQ-Roll Call | Getty Images

The House of Representatives will introduce and vote on a war powers resolution this week to limit Trump's military actions regarding Iran, according a letter Speaker Nancy Pelosi sent to her Democratic colleagues. While such a resolution could win approval in the Democratic-controlled House, passage in the majority Republican Senate would be uncertain. On Sunday, the president said that a series of tweets over the weekend serve as sufficient notification to Congress that he would strike back against Iran if the Islamic Republic retaliates over the death of Soleimani.

4. Boeing and FAA reviewing 737 Max wiring issue that could cause a short circuit

Boeing 737 MAX airplanes are stored on employee parking lots near Boeing Field, on June 27, 2019 in Seattle, Washington. After a pair of crashes, the 737 MAX has been grounded by the FAA and other aviation agencies since March, 13, 2019.
Stephen Brashear | Getty Images

Shares of embattled Dow stock Boeing were down about 1% in premarket trading after the U.S. aircraft giant and the FAA confirmed Sunday they're reviewing a wiring issue that could cause a short circuit on the 737 Max. The New York Times reported Boeing is reviewing whether two bundles of wiring are too close together. The Wall Street Journal said Boeing is considering plans to raise more debt to bolster its finances. The entire Max fleet was taken out of service around the world in March after two deadly crashes involving those jets within five months killed 346 people.

5. Apple gets price target hikes, though stock down in premarket

Tim Cook, CEO of Apple, speaks during an Apple special event at the Steve Jobs Theater in Cupertino, California, March 25, 2019.
Stephen Lam | Reuters

Several Wall Street firms raised their price targets on Apple on Monday, including Evercore to $315 per share and Needham to $350. Wedbush said it sees a bull case for Apple at $400, citing a 5G "super cycle." Needham actually downgraded its rating on Apple to a buy from a strong buy due to the stock surpassing the firm's previous price target. Apple shares closed Friday at $297. They are under pressure in the premarket, though only a few points off Thursday's all-time highs.

— Reuters and The Associated Press contributed to this report.