Chip stocks led futures higher on Monday, signaling a positive open for Wall Street. The tech-heavy Nasdaq 100 saw the strongest gains as semiconductor shares rebounded.
Nvidia and Advanced Micro Devices both rose in premarket trading. Investors focused on renewed demand for artificial intelligence components after a mixed week.
The S&P 500 and Dow Jones Industrial Average also pointed higher. Markets looked past geopolitical tensions to focus on earnings and Federal Reserve policy.
Oil prices remained elevated amid continued fighting in the Middle East. Crude benchmarks held near recent highs as traders assessed supply risks.
Escalating conflict between Israel and Iran-backed forces stoked fears of disruptions. Brent crude traded above $82 a barrel, while West Texas Intermediate stayed near $78.
Energy stocks gained on the oil price jump. Exxon Mobil and Chevron both rose in premarket action.
Treasury yields edged higher as bond markets adjusted to rate expectations. The 10-year yield traded near 4.25%.
Investors awaited corporate earnings reports later this week. Major tech firms and industrial companies are scheduled to release quarterly results.
Fed officials remained cautious about inflation trends. Markets priced in a high chance of a rate cut in September.
