Stock futures wavered before Monday's session as the escalating conflict between Israel and Iran spiked oil prices and raised investors' concerns about the global economy. Dow Jones Industrial Average futures shed 56 points, or 0.1%. S&P 500 futures lost 0.1%, while Nasdaq 100 futures traded around their flatline.

Israel's attack on Iran raises questions like whether the US will get involved, how Iran will respond, and if a wider conflict may be triggered.

The Iran-Israel conflict has set the stage for a week that will see US Fed and BoJ consider key policy decisions, along with a summit level meeting of Group of Seven leaders, and market participants will weight if the cues get further complicated.

As the Israel-Iran conflict intensifies, India is increasingly at risk of collateral economic fallout, with energy security, trade routes, and key commercial interests facing growing uncertainty, it warned. The escalating hostilities, and rising regional tensions pose direct threats to India’s strategic and economic links with West Asia.

The retaliatory strikes came on Saturday, a day after Israel killed top Iranian military leaders and scientists and destroyed an aboveground nuclear enrichment plant near Natanz.

GTRI warns of India's economic vulnerability amid Israel-Iran conflict, urging energy diversification and strategic reserve readiness.