Dow Futures fall after U.S. President Donald Trump cancels plans to send negotiators for new discussions with Iran over the weekend, prolonging the deadlock between Washington and Tehran. The Strait of Hormuz is still closed, keeping oil prices high. This week, a wave of corporate earnings is set to begin, featuring reports from major players in artificial intelligence.

Dow futures were down on Monday, as investors prepared for a very busy week ahead. This week will include many corporate earnings reports, important interest rate decisions from central banks, and possible updates on talks between the U.S. and Iran. By 03:30, the index had decreased by 86 points, or 0.2%, futures had dropped by 8 points, or 0.1%, and another index had declined by 19 points, or 0.1%. The S&P 500 and tech stocks rose at the end of the last trading week, supported by optimism that the U.S. and Iran might resume discussions to resolve their ongoing conflict and reopen the Strait of Hormuz. Over the weekend, Trump decided not to send negotiators to Pakistan for new talks with Iran. This suggests that the ongoing closure of the strait, which is vital for a significant portion of the world’s oil, will continue for some time. Trump stated that Tehran can “call me” since Washington has “all the cards.”

There is a lot of talk about what will happen next in the discussions, with experts suggesting that “there will likely be many more headlines about Iran” for the markets to consider this week. A recent report has caught the interest of traders. It states that Iran has presented a new proposal to the U.S. regarding the reopening of the Strait of Hormuz and the conclusion of the war, while talks about Iran’s nuclear plans will be delayed until a future time. Supplies through the strait are still limited, causing another rise in oil prices on Monday, which increased by 2.4% to $107.87 a barrel by 03:40, while another type rose by 2.3% to $96.58 a barrel.

Verizon is set to start a busy week of earnings reports, with its announcement expected before the market opens on Monday. Estimates suggest that the telecommunications company will see a drop of 89,169 in retail postpaid phone subscribers. Adjusted earnings before interest, taxes, depreciation, and amortization are expected to be $13.14 billion, while operating revenue stands at $34.8 billion. Investors are watching Verizon as it works to combine its wireless and broadband services to help grow its subscriber base. This comes after the company strengthened its fiber assets by acquiring the fiber-optic internet provider Communications. In January, Verizon provided a positive forecast for its full-year profit and free cash flow, along with announcing its first share buyback program in nearly six years. The returns will arrive before a series of corporate results, especially from major tech companies like the owner of Google and other software firms. Investors will be very interested in hearing about these companies’ large spending plans on artificial intelligence, as this spending is essential for supporting a growing AI industry.

A collection of budget airlines in the U.S., such as Frontier and Avelo, are looking for $2.5 billion in government help. In return, they would offer warrants that might turn into ownership shares, according to a report on Sunday. The group arrived at the $2.5 billion amount by figuring out how much extra they plan to spend on jet fuel this year compared to previous estimates, according to the report, which referenced sources close to the situation. The estimate expected jet fuel prices to stay above $4 a gallon for the rest of the year. Discussions about a possible economic aid package are likely to carry on in the next few days, according to the report. Global airlines were battered by a spike in jet fuel prices, as the U.S.-Israeli war on Iran disrupted global oil supplies and drove upstream prices higher.

The Bank of Japan is expected to keep interest rates the same after its meeting on April 28. However, the central bank might adopt a more aggressive stance due to increasing inflation and rising oil prices. The Bank of Japan is expected to maintain its short-term interest rate at 0.75%, according to data. The decision is expected to be the third time in a row that the central bank keeps rates steady after raising them by 25 basis points in December. Initially, markets thought there would be another increase in April, but a number of softer messages from the BOJ changed that view. The central bank showed increased uncertainty about how the Iran war will affect the economy, leading to speculation that it will take a cautious approach for now. The BOJ is expected to keep a mostly hawkish view and may increase inflation expectations because of energy and shipping disruptions linked to the Iran conflict.