Futures pull back ahead of earnings; oil stocks jump

- U.S. stock index futures dipped on Monday as investors returned from their Easter break and took a cautious stance at the beginning of what is expected to be the busiest week of the first-quarter earnings season.

The S&P 500 closed slightly lower last week, ending its three-week winning streak, but hovered about 1% away from a record high hit in September on U.S.-China trade hopes and a largely upbeat earnings season. S&P 500 profits are expected to drop 1.7% year-over-year, according to Refinitiv data in what could be the first earnings contraction since 2016.

Also helping was a surge in oil prices, with the United States set to announce a further clampdown on Iranian oil exports, tightening global supplies.At 7:21 a.m. ET, Dow e-minis were down 60 points, or 0.23%. S&P 500 e-minis were down 7.75 points, or 0.27% and Nasdaq 100 e-minis were down 23.75 points, or 0.31%.

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