Futures pull back ahead of earnings; oil stocks jump

REUTERS: 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.

S&P 500 profits are expected to drop 1.7per cent 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.Exxon Mobil Corp was up 0.6per cent and Schlumberger NV gained 1.5per cent.

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