S&P 500 index(SPX.US) futures were relatively unchanged on Monday as growing artificial intelligence optimism among investors was measured against tensions in the Middle East.

Futures tied to the broad market index rose 0.1%, and NASDAQ-100(NDX.US) futures gained 0.4%. Dow Jones Industrial Average(DJI.US) futures slid 123 points, or 0.2%.

Nasdaq-100 futures were propped up by gains in shares of Micron Technology, Inc.(MU.US) and other chip stocks after Bloomberg News reported that Anthropic’s second-quarter revenue was more than $11.5 billion — a massive jump from a year earlier. Micron was up more than 3%. Broadcom Limited(AVGO.US) and NVIDIA Corporation(NVDA.US) were also higher.

However, oil prices ticked higher after a senior Iranian official told Reuters that the country will ratchet up tensions in the Strait of Hormuz as well as the broader region if diplomacy with the U.S. fails. U.S. West Texas Intermediate futures gained nearly 1% to around $83 per barrel, while international benchmark Brent crude futures were up about 1% to around $89 a barrel.

The S&P 500 notched a fresh all-time high last week following a blockbuster earnings season that’s buoyed investor sentiment. The stock market has continued to climb in the face of ongoing hostilities in the Middle East, as well as concerns around the artificial intelligence trade.

Disappointing retail sales data and a relatively mild inflation print have reduced market expectations of a Federal Reserve rate hike in the coming month.

“You’ve had the shift in interest rate expectations which feeds into some of those tech names, I think that helps explain some of that big rally we’ve had recently in tech after quite a quiet July where we had all those strong earnings but really tech didn’t do very much,” Rory McPherson, chief market strategist at Wren Sterling, told CNBC’s “Squawk Box Europe” on Monday.

Investors are in for a week with fewer catalysts on the calendar, though the Federal Reserve posts its latest meeting minutes Wednesday. A slew of retail earnings are also on tap, with Walmart results due out Thursday. Home Depot and Lowe’s report Tuesday and Wednesday, respectively.

On the economic front, investors will be watching for the August Empire State manufacturing index, as well as the NAHB Housing Market Index for August.

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As of 04:00 PM Riyadh Time, top pre-market movements are as follows:

Fed Minutes Offer No Clear Rate Path

• Investors parsed July Fed minutes; policy rate stayed at 3.5%-3.75% for a fifth straight meeting, with no explicit forward guidance on cuts.
• Ten-year Treasury yield fell 2 basis points to 4.6743% as traders await FOMC minutes this week, signaling cautious sentiment on rate outlook.

Oil Flow Dispute Hits Hormuz Strait

Market sees Strait of Hormuz effectively closed; US Energy Secretary says oil flows faster than perceived, citing tracking data mismatch (United States Oil Fund Lp Units(USO.US)).

AI Rally Faces One Risk: Rates

Wall Street's AI-driven stocks are at records, but investors eye rising interest rates as the sole threat to this economic-backed surge.

Bitcoin Volatility Looms

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US Debt Hits Record US$40T

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Tesla Touts American-Made Label Amid Tariffs

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AMD launches US$4.75B debt sale

Advanced Micro Devices, Inc.(AMD.US) shares rose after detailing a US$4.75B debt offering, boosting its capital raise plans.

Harvard's US$2.2B SpaceX Bet Tops All

• Harvard University disclosed a US$2.2 billion SpaceX stake, its largest public equity holding, surpassing Amazon.com, Inc.(AMZN.US) and NVIDIA Corporation(NVDA.US) bets. Read in detail>>
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Meta Faces Major Addiction Trial

Meta Platforms(META.US) faces a Tuesday trial over social media addiction claims, urging shareholder vigilance now.

Apple's Houston Shift Reshapes Supply Chain

Apple Inc.(AAPL.US) plans Houston manufacturing to ease supply strains, likely boosting output resilience and cutting reliance on Asia. Read in detail>>

Waymo Expands Robotaxi Zones

Waymo received California approval to operate robotaxis across the Bay Area and Los Angeles, marking major expansion for the Alphabet Inc. Class A(GOOGL.US) unit. Read in detail>>

TSMC's Arizona Profit Set to Soar

Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) sees Arizona income jump on surging advanced chip demand, per report. Read in detail>>

Billionaire Druckenmiller Buys IREN

Stanley Druckenmiller's fund bought IREN Limited(IREN.US) while dumping stakes in Broadcom, Intel and Micron in Q3. Read in detail>>

Freightos Beats Q2 Estimates

Freightos(CRGO.US) reported Q2 adjusted EPS of US$-0.04, beating the US$-0.05 estimate, with sales of US$7.691M surpassing the US$7.300M forecast. Read in detail>>

NRX Pharma Q2 Loss Widens

NRX Pharmaceuticals, Inc.(NRXP.US) missed EPS and sales estimates, reporting Q2 sales of US$1.101 million versus the US$17.488 million consensus. Read in detail>>

Monster Beverage Q2 Spurs Bull Case Shift

Monster Beverage Corporation(MNST.US) posted strong Q2 results with zero sugar momentum, potentially reshaping its bull case. Read in detail>>

KDP's Revenue Jumps, Profit Dips

Keurig Dr Pepper(KDP.US) posted Q2 revenue up 4% to US$3.9B, but profit fell 3%; bull case hinges on pricing and coffee demand. Read in detail>>

WeRide Drops Despite Q2 Growth

WeRide Inc. Sponsored ADR(WRD.US) fell 7.1% to US$15.82 after Q2 revenue and Denmark L4 deal, raising bull case doubts. Read in detail>>

Albemarle Raises Guidance, Stock Jumps

ALBEMARLE CORP(ALBCL.US) posted higher profit and lifted 2026 outlook, boosting investor sentiment on lithium demand. Read in detail>>