For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.

July 13 (Reuters) - Futures tied to the S&P 500 and the Nasdaq fell on Monday, as a fresh escalation between Iran and the U.S. in the Gulf rattled investors' sentiment, drove oil prices higher and knocked chip stocks.

Markets started the week on shaky footing as Iran and the U.S. exchanged attacks in the Gulf and Tehran claimed it had closed the Strait of Hormuz, a vital conduit for global oil supplies.

The renewed violence cast doubt on an interim U.S.-Iran agreement signed last month that aimed to reopen the strait and end the war after 60 days of negotiations.

Crude futures LCOc1 rose more than 2% after investors weighed the renewed threat to the key shipping route. Tech-heavy Nasdaq futures led declines, with semiconductor stocks among the biggest premarket losers.

Memory-chip makers fell sharply, with Micron Technology MU.O down 5.2%, while Western Digital WDC.O, Seagate STX.O and Sandisk SNDK.O dropped 6%, 4.8% and 6.6%, respectively.

U.S.-listed shares of SK Hynix SKHY.O fell 9.3% after a blockbuster Nasdaq debut on Friday.

IShares semiconductor ETF SOXX.O fell 2.7%.

"U.S. futures are pointing to a lower open later today. This suggests that the rise in geopolitical tensions and the spike in the oil price are disrupting the momentum trade once again, which will hit the tech trade and the chip stock rally," said Kathleen Brooks, research director at XTB.

At 5:14 a.m. ET, Dow E-minis YMcv1 were up 28 points, or 0.05%, and S&P 500 E-minis EScv1 were down 23.5 points, or 0.31%. Nasdaq 100 E-minis NQcv1 were down 303.75 points, or 1.01%.

The Dow Jones index .DJI closed up 0.29% at 52,637.01​ on Friday. The futures contract is up 0.56% from that close.​

The moves came ahead of a busy week of economic data and corporate earnings that could test the resilience of the U.S. equity rally.

The S&P 500 .SPX is up more than 10% this year and less than 1% below its early-June record close. The benchmark posted a second straight weekly gain last week, overcoming sharp swings in semiconductor shares and renewed U.S.-Iran tensions that put energy-price risks back in focus.

Major U.S. banks, including JPMorgan Chase JPM.N, Goldman Sachs GS.N and Morgan Stanley MS.N, will kick off second-quarter earnings this week. Netflix NFLX.O, General Electric GE.N and UnitedHealth UNH.N are also due to report.

S&P 500 earnings are expected to rise 23.7% in the second quarter from a year earlier, according to LSEG IBES.

Investors will also parse several key economic reports, led by Tuesday's U.S. consumer price index, an inflation reading that could reset expectations for the path of interest rates. Producer prices and monthly retail sales data are due on Wednesday and Thursday, respectively.

On Tuesday, Fed Chair Kevin Warsh is expected to deliver his first monetary policy testimony before Congress. Fed Governor Christopher Waller is scheduled to speak later on Monday on the economic outlook.

Markets are pricing in at least one 25-basis-point rate hike by year-end, according to LSEG data.